Shares fell as investors cautious ahead of data
Print Edition
SHANGHAI stocks fell yesterday as investors were cautious ahead of the release of China’s economic data for 2014.
The Shanghai Composite Index dropped 1.71 percent to end at 3,229.32 points.
The National Bureau of Statistics will release the data for last year on January 20.
Huatai Securities was not optimistic over a quick recovery for the Chinese economy given the downward trend. The brokerage saw even more negative data for the first quarter of 2015. It said that if the Chinese central bank doesn’t cut the bank requirement reserve ratio quickly, the market will face an even tougher liquidity issue.
Profit-taking hit brokerages, with Anxin Trust tumbling 6.41 percent to 27.29 yuan (US$4.40) and CITIC Securities losing 4.09 percent to 33.53 yuan. Avic Capital shed 4.02 percent to 15.76 yuan, and Sunny Loan Top Co fell 3.78 percent to 9.92 yuan.
Yunnan Copper lost 4.39 percent to end at 14.15 yuan, and Jiangxi Copper fell 3.42 percent to finish at 18.09 yuan.
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