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Stocks close down from opening highs
By Lydia Chen |
September 8, 2011, Thursday
|
Online Edition
Online Edition
THE Shanghai stock market retreated from a high opening and closed lower today, with cement-maker blue chips sinking in the thin trading session.
The Shanghai Composite Index was down 0.68 percent to 2,498.94. Turnover stayed low at nearly 61 billion yuan (USS$9.5 billion).
Cement makers, which have already slumped for several trading days as the country's growth concerns spread, were again the biggest drag factor during the day.
Huaxin Cement Co shed 3.9 percent to 19.21 yuan. Anhui Conch Cement Co, the country's largest cement producer, lost 2.56 percent to 18.63 yuan.
Demand for construction materials haven't experienced a sharp rise so far in September, the traditional peak season for the industry, which further may hamper investor confidence in related listed firms, according to a note by Huatai United Securities Co.
The Shanghai Composite Index was down 0.68 percent to 2,498.94. Turnover stayed low at nearly 61 billion yuan (USS$9.5 billion).
Cement makers, which have already slumped for several trading days as the country's growth concerns spread, were again the biggest drag factor during the day.
Huaxin Cement Co shed 3.9 percent to 19.21 yuan. Anhui Conch Cement Co, the country's largest cement producer, lost 2.56 percent to 18.63 yuan.
Demand for construction materials haven't experienced a sharp rise so far in September, the traditional peak season for the industry, which further may hamper investor confidence in related listed firms, according to a note by Huatai United Securities Co.
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