Stocks end nearly unchanged
By Feng Jianmin |
May 20, 2010, Thursday
|
Print Edition
Print Edition
SHANGHAI stocks closed almost unchanged yesterday as losses in property developers and banks offset gains in the high-tech sector amid market uncertainties.
The Shanghai Composite Index dipped 0.27 percent to close at 2,587.81. Turnover shrank to 78.98 billion yuan (US$11.58 billion) from 84.66 billion yuan on Tuesday.
"A significant rebound is unlikely to happen with a small turnover," said analysts at Huatai Securities. "The market will remain uncertain until restrictive measures (the central government imposed) on property yield actual results."
Property developers fell after Tuesday's rally. Huayuan Property Co slid 5.44 percent to 6.43 yuan.
The Bank of China lost 1.01 percent to 3.91 yuan and China Construction Bank shed 0.59 percent to 5.03 yuan.
Datang Telecom Technology Co jumped 9.99 percent to 15.2 yuan. Hanwang Techonology Co Ltd surged by the 10 percent daily cap to close at 158.40 yuan.
The Shanghai Composite Index dipped 0.27 percent to close at 2,587.81. Turnover shrank to 78.98 billion yuan (US$11.58 billion) from 84.66 billion yuan on Tuesday.
"A significant rebound is unlikely to happen with a small turnover," said analysts at Huatai Securities. "The market will remain uncertain until restrictive measures (the central government imposed) on property yield actual results."
Property developers fell after Tuesday's rally. Huayuan Property Co slid 5.44 percent to 6.43 yuan.
The Bank of China lost 1.01 percent to 3.91 yuan and China Construction Bank shed 0.59 percent to 5.03 yuan.
Datang Telecom Technology Co jumped 9.99 percent to 15.2 yuan. Hanwang Techonology Co Ltd surged by the 10 percent daily cap to close at 158.40 yuan.
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