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Stocks near 7-month low
By Ding Yining and Feng Jianmin |
April 29, 2010, Thursday
|
Online Edition
Online Edition
SHANGHAI'S market approached a 7-month low today.
The benchmark Shanghai Composite Index dropped 1.1 percent, or 31.9 points, to close at 2,868.43 points. Turnover was 113.8 billion yuan (US$16.7 billion). Losers outnumbered gainers by 821 to 126 and 156 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, tumbled 2.52 percent to 1,132.22 points.
Banks and financial shares outperformed the market with mixed results. Ping An Insurance (Group) Co went down 1.08 percent to 48.46 yuan. China Pacific Insurance (Group) Co Ltd rose 0.53 percent to 24.57 yuan.
Bank of Communications and Industrial Bank remained almost unchanged at 7.01 yuan and 28.74 yuan. Bank of China edged up 1.48 percent to 4.11 yuan.
China Merchants Bank said profit in the first three months rose 40 percent from that of last year to 5.9 billion yuan. The stock advanced 1.59 percent to 14.03 yuan.
FAW Car Co said first-quarter profits surged 66 percent to 8.43 billion yuan. Its shares edged up 0.76 percent to 18.60 yuan.
Property shares were also mixed. Shanghai Lujiazui Finance & Trade Zone Development Co Ltd surged 9.26 percent to 20.76 yuan. Shanghai Wai Gaoqiao Free Trade Zone Development Co picked up 3.94 percent to 15.81 yuan. Vanke Co was 0.26 percent lower to 7.76 yuan. China Merchants Property Development Co went down 1.08 percent to 17.47 yuan.
The benchmark Shanghai Composite Index dropped 1.1 percent, or 31.9 points, to close at 2,868.43 points. Turnover was 113.8 billion yuan (US$16.7 billion). Losers outnumbered gainers by 821 to 126 and 156 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, tumbled 2.52 percent to 1,132.22 points.
Banks and financial shares outperformed the market with mixed results. Ping An Insurance (Group) Co went down 1.08 percent to 48.46 yuan. China Pacific Insurance (Group) Co Ltd rose 0.53 percent to 24.57 yuan.
Bank of Communications and Industrial Bank remained almost unchanged at 7.01 yuan and 28.74 yuan. Bank of China edged up 1.48 percent to 4.11 yuan.
China Merchants Bank said profit in the first three months rose 40 percent from that of last year to 5.9 billion yuan. The stock advanced 1.59 percent to 14.03 yuan.
FAW Car Co said first-quarter profits surged 66 percent to 8.43 billion yuan. Its shares edged up 0.76 percent to 18.60 yuan.
Property shares were also mixed. Shanghai Lujiazui Finance & Trade Zone Development Co Ltd surged 9.26 percent to 20.76 yuan. Shanghai Wai Gaoqiao Free Trade Zone Development Co picked up 3.94 percent to 15.81 yuan. Vanke Co was 0.26 percent lower to 7.76 yuan. China Merchants Property Development Co went down 1.08 percent to 17.47 yuan.
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