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Shanghai stocks lose on weaker commodity firms
By Joyce Pan |
February 26, 2010, Friday
|
Online Edition
Online Edition
SHANGHAI'S key stock index remained flat in the morning session as gains by automakers were offset by losses of commodity producers.
The benchmark Shanghai Composite Index dipped 0.24 percent, or 7.32 points, to close at 3,053.30 points. Turnover stood at 64.9 billion yuan (US$9.5 billion). Losers outnumbered gainers 508 to 340 and 28 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was down 0.13 percent to close at 1,172.14 points.
Aluminum Corp of China, the nation's biggest maker of the lightweight metal, withdrew 1 percent to 12.7 yuan. Jiangxi Copper Co decreased 1.5 percent to 35.14 yuan. Yunnan Chihong Zinc & Germanium Co retreated 2 percent to 22.5 yuan.
Zijin Mining Group Co, the country's largest gold producer, eased 1 percent to 8.51 yuan. Zhongjin Gold Corp, the second biggest by market value, was off 0.4 percent to 49.75 yuan. Shandong Gold Mining Co fell 0.6 percent to 68 yuan.
Bucking the downward trend, Anhui Jianghuai Automobile Co advanced 3.23 percent to 10.54 yuan. SAIC Motor Corp jumped 2.3 percent to 21.96 yuan and Beiqi Foton Motor Co climbed 2 percent to 19.6 yuan. Faw Car Co increased 2.2 percent to 23.14 yuan.
Lenders showed mixed performance. Bank of Communications edged up 0.1 percent to 8.2 yuan. Bank of China lost 0.2 percent at 4.15 yuan. Industrial and Commercial Bank of China fell 0.2 percent to 4.87 yuan.
The benchmark Shanghai Composite Index dipped 0.24 percent, or 7.32 points, to close at 3,053.30 points. Turnover stood at 64.9 billion yuan (US$9.5 billion). Losers outnumbered gainers 508 to 340 and 28 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was down 0.13 percent to close at 1,172.14 points.
Aluminum Corp of China, the nation's biggest maker of the lightweight metal, withdrew 1 percent to 12.7 yuan. Jiangxi Copper Co decreased 1.5 percent to 35.14 yuan. Yunnan Chihong Zinc & Germanium Co retreated 2 percent to 22.5 yuan.
Zijin Mining Group Co, the country's largest gold producer, eased 1 percent to 8.51 yuan. Zhongjin Gold Corp, the second biggest by market value, was off 0.4 percent to 49.75 yuan. Shandong Gold Mining Co fell 0.6 percent to 68 yuan.
Bucking the downward trend, Anhui Jianghuai Automobile Co advanced 3.23 percent to 10.54 yuan. SAIC Motor Corp jumped 2.3 percent to 21.96 yuan and Beiqi Foton Motor Co climbed 2 percent to 19.6 yuan. Faw Car Co increased 2.2 percent to 23.14 yuan.
Lenders showed mixed performance. Bank of Communications edged up 0.1 percent to 8.2 yuan. Bank of China lost 0.2 percent at 4.15 yuan. Industrial and Commercial Bank of China fell 0.2 percent to 4.87 yuan.
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