Stocks hit 4-year lows, but don鈥檛 panic
CHINA’S stock markets hit four-year lows yesterday as external uncertainties weakened investor sentiment.
But analysts warned against panic selling, saying government reforms — from tax cuts to a reduction in reserve requirements for lenders that came into effect on Monday — would ensure stability.
The benchmark Shanghai Composite Index fell 0.85 percent to close at 2,546.33 points. The Shenzhen Component Index closed 1.95 percent lower at 7,298.98 points.
Combined turnover on the two bourses was 236 billion yuan (US$34.04 billion), down from 238.73 billion yuan a day earlier.
Coal, real estate, automobile and petrochemical stocks were among the biggest losers. But gas, water services and banks gained.
Haitong Securities cautioned against panic selling, given the tax cuts already promised by the Finance Ministry and the increased liquidity for lenders. The securities regulatory commission also said it would shoulder the responsibility of protecting investors.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔$粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.