Shares slide as growth in industrial profits falls
Print Edition
SHANGHAI stocks fell yesterday after data showed industrial profit growth slowed in September from August.
The Shanghai Composite index lost 2.18 percent to close at 2,542.10 points.
Coal and consumer stocks were among the biggest decliners. The consumer sector dropped 4.83 percent; coal producers fell 3.25 percent.
China’s industrial profit growth more than halved last month to 4.1 percent year on year from 9.2 percent in August. For the first nine months of this year, profits of industrial enterprises rose 14.7 percent — 1.5 percentage points lower than the first eight months, according to data from the National Bureau of Statistics released on Saturday.
Sentiment was also weak after Kweichow Moutai Co, the country’s top liquor producer, fell by the daily limit of 10 percent after it reported slower profit growth in the third quarter.
Qin Hong, of Jingbailing Consulting, said liquor stocks fell mainly due to the slowdown in business growth.
- 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.
