Shares fall from 2-week high on profit-taking
Print Edition
SHANGHAI stocks yesterday fell from a two-week high as investors locked in profits from recent gains.
The Shanghai Composite Index slid 0.19 percent, or 3.85 points, to 2,059.38.
For the week, the index gained 1.12 percent.
“The market is on a downward correction after days of gains,” said Dong Wangfei, an analyst at Western Securities.
He said short-term speculators took profits from a recent rebound because they were worried whether the market would maintain its four-day rally that was helped by strong economic data and improving liquidity.
Cheng Feng, an analyst at Changjiang Securities, said investors were cheered by a stabilizing economy in the short term, but a persistent cooling in the real estate sector is clouding the long-term outlook.
Port firms fell the most after rising in the previous session.
Rizhao Port slumped 9.3 percent to 2.91 yuan (47 US cents). Jiangsu Lianyungang Port lost 6 percent to end at 4.23 yuan, and Dalian Port tumbled 10 percent to close at 3.15 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
