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Shares fall as Premier maintains prudent monetary stance
By Feng Jianmin |
September 14, 2011, Wednesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index fell in the morning session on fear for more monetary tightening measures.
The benchmark Shanghai Composite Index fell 0.52 percent in the morning session to 2,458.42 points. Turnover fell to 22.8 billion yuan (US$3.6 billion) from yesterday morning's 29.7 billion yuan.
China's Premier Wen Jiabao said today that China would maintain a "prudent" monetary policy and curbing prices will remain a priority.
He also urged Europe to recognize China's market economy and China is willing to increase investment to Europe.
Metal producers extended previous losses as base metal prices continued to decline on concerns for slower economic growth worldwide. Jiangxi Copper Co lost 0.8 percent to 30.52 yuan. Aluminium Corp of China fell 1 percent to 8.64 yuan.
Property developers were weak after data showed that sales of new homes dropped to their lowest point in four weeks last week and deals of second-hand homes dropped to the second lowest in the year last month. China Vanke fell 0.3 percent to 8.05 yuan.
The benchmark Shanghai Composite Index fell 0.52 percent in the morning session to 2,458.42 points. Turnover fell to 22.8 billion yuan (US$3.6 billion) from yesterday morning's 29.7 billion yuan.
China's Premier Wen Jiabao said today that China would maintain a "prudent" monetary policy and curbing prices will remain a priority.
He also urged Europe to recognize China's market economy and China is willing to increase investment to Europe.
Metal producers extended previous losses as base metal prices continued to decline on concerns for slower economic growth worldwide. Jiangxi Copper Co lost 0.8 percent to 30.52 yuan. Aluminium Corp of China fell 1 percent to 8.64 yuan.
Property developers were weak after data showed that sales of new homes dropped to their lowest point in four weeks last week and deals of second-hand homes dropped to the second lowest in the year last month. China Vanke fell 0.3 percent to 8.05 yuan.
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