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Stocks lose 0.02% in morning trade
By Ding Yining |
March 7, 2012, Wednesday
|
Online Edition
Online Edition
THE Shanghai market closed lower during morning trade for the third day on weak performance among financials and metal producers.
The Shanghai Composite Index dipped 0.02 percent, or 0.37 points, to 2,410.07 points. Turnover was 48.2 billion yuan (US$7.7 billion).
Banks and financial shares were weak.
Agricultural Bank of China lowered 0.74 percent to 2.69 yuan. China Citic Bank was down 0.87 percent to 4.54 yuan.
China Life Insurance Co lost 0.73 percent to 17.56 yuan after it said profit growth in 2011 will drop 40 percent to 50 percent annually.
PetroChina, the biggest index component, edged up 0.10 percent to 10.33 yuan.
Commerce Minister Chen Deming said today during the annual National People's Congress in Beijing that China's exports and imports rose about 7 percent annually in the first two months this year and overall trade will grow about 10 percent.
Retailers and consumer-related sectors advanced among expectations that more incentives will be released to boost domestic demand. Suning Appliance Co surged 8.28 percent to 10.07 yuan. Dalian Friendship (Group) Co advanced 4.85 percent to 7.57 yuan.
Brokerages were also strong. Haitong Securities advanced 1.72 percent to 9.46 yuan. GF Securities added 2.07 percent to 30.11 yuan.
Metal producers were also among the losers after gold fell 5.8 percent today. China Gold Mining Co retreated 1.52 percent to 22 yuan. Zijin Mining Group Co, the nation's largest gold producer, was down 1.1 percent to 4.48 yuan.
The Shanghai Composite Index dipped 0.02 percent, or 0.37 points, to 2,410.07 points. Turnover was 48.2 billion yuan (US$7.7 billion).
Banks and financial shares were weak.
Agricultural Bank of China lowered 0.74 percent to 2.69 yuan. China Citic Bank was down 0.87 percent to 4.54 yuan.
China Life Insurance Co lost 0.73 percent to 17.56 yuan after it said profit growth in 2011 will drop 40 percent to 50 percent annually.
PetroChina, the biggest index component, edged up 0.10 percent to 10.33 yuan.
Commerce Minister Chen Deming said today during the annual National People's Congress in Beijing that China's exports and imports rose about 7 percent annually in the first two months this year and overall trade will grow about 10 percent.
Retailers and consumer-related sectors advanced among expectations that more incentives will be released to boost domestic demand. Suning Appliance Co surged 8.28 percent to 10.07 yuan. Dalian Friendship (Group) Co advanced 4.85 percent to 7.57 yuan.
Brokerages were also strong. Haitong Securities advanced 1.72 percent to 9.46 yuan. GF Securities added 2.07 percent to 30.11 yuan.
Metal producers were also among the losers after gold fell 5.8 percent today. China Gold Mining Co retreated 1.52 percent to 22 yuan. Zijin Mining Group Co, the nation's largest gold producer, was down 1.1 percent to 4.48 yuan.
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