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Shares dip slightly in morning trade
By Feng Jianmin |
September 15, 2011, Thursday
|
Online Edition
Online Edition
SHANGHAI'S key stock index was almost unchanged in the morning session after the central bank said bankers' confidence for the economy in the third quarter fell.
The benchmark Shanghai Composite Index dipped 0.02 percent to 2,484.45 points. Turnover rose to 32.3 billion yuan (US$5 billion) from yesterday morning's 22.8 billion yuan.
The People's Bank of China said in a report today that a banker confidence index for the third quarter fell 2.1 percentage points from last quarter to 54.9 percent on a cautious outlook for the macro economy.
The report said 35.7 percent of the bankers surveyed thought the economy was "relatively hot," 2.6 percentage points down from last quarter. Meanwhile, 52.5 percent of bankers said the economy was "normal," 1.9 percentage points down from last quarter.
Another survey released today by the central bank showed that the public was not happy with consumer prices and people were less willing to spend. The public's willingness to invest in the stock market fell to a three-year low, the survey said.
Brokerages were weak. Haitong Securities Co fell 1.1 percent to 8.12 yuan. Everbright Securities fell 1 percent to 12.01 yuan.
Car manufacturers rose after China's top economic planning agency, the National Development and Reform Commission, announced it would allow more companies to remanufacture car parts. SAIC Motor Co rose 2.9 percent to 15.56 yuan.
The benchmark Shanghai Composite Index dipped 0.02 percent to 2,484.45 points. Turnover rose to 32.3 billion yuan (US$5 billion) from yesterday morning's 22.8 billion yuan.
The People's Bank of China said in a report today that a banker confidence index for the third quarter fell 2.1 percentage points from last quarter to 54.9 percent on a cautious outlook for the macro economy.
The report said 35.7 percent of the bankers surveyed thought the economy was "relatively hot," 2.6 percentage points down from last quarter. Meanwhile, 52.5 percent of bankers said the economy was "normal," 1.9 percentage points down from last quarter.
Another survey released today by the central bank showed that the public was not happy with consumer prices and people were less willing to spend. The public's willingness to invest in the stock market fell to a three-year low, the survey said.
Brokerages were weak. Haitong Securities Co fell 1.1 percent to 8.12 yuan. Everbright Securities fell 1 percent to 12.01 yuan.
Car manufacturers rose after China's top economic planning agency, the National Development and Reform Commission, announced it would allow more companies to remanufacture car parts. SAIC Motor Co rose 2.9 percent to 15.56 yuan.
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