Shares fall on worries over GDP growth
Print Edition
SHANGHAI’S share index yesterday fell from an eight-week high amid investor concern over China’s slowest quarterly economic growth since 2009.
The Shanghai Composite Index shed 0.14 percent to 3,386.7 points yesterday.
China’s gross domestic product rose 6.9 percent in the third quarter, posting its weakest quarterly growth in six years, according to the National Bureau of Statistics.
The growth, though it beat most economists’ estimates of 6.8 percent, still came below the government’s target of 7 percent expansion this year.
“This (growth) isn’t something you can celebrate without any worries,” said Yusuke Sakai, a senior trader at T&D Asset Management.
Technology companies led the decline, with China United Network Communications Co falling 2.49 percent to close at 6.66 yuan (US$1.05), halting a two-day gain.
“With the index approaching a key level at 3,500 points, investors may not have the conviction to push past this level unless we see a significant impulse such as stronger fiscal or monetary stimulus,” Bernard Aw, a strategist at IG Asia Pte, told Bloomberg News.
- 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.
