Related News
Stocks resume fall on banking, property news
By Ding Yining and FengJianmin |
August 29, 2011, Monday
|
Online Edition
Online Edition
THE Shanghai market fell for the second day asfears over more tightening measures soured sentiment among financial and property shares.
The benchmark Shanghai Composite Index was down 1.37 percent, or 35.78 points, to 2,576.41 points. Turnover was 78.4 billion yuan (US$12.3 billion).
Reuters reported on Friday that China has ordered banks to include their margin deposits in required reserves as the central bank steps up ways to mop up excessive liquidity.
Barclays analysts estimated in a research note today that around 900 billion yuan will be drained from the banking system under the new requirement.
China Construction Bank fell 1.32 percent to 4.50 yuan. China Life Insurance Co was down 2.3 percent to 15.87 yuan. Shanghai Pudong Development Bank retreated 3.1 percent to 9.17 yuan.
Beijing Times newspaper reported today the housing ministry is setting up a registration system to track the number of homes owned by individuals in more than 40 cities, dragging down property stocks.
China Vanke Co, the country's largest listed real estate developer, was down 2.5 percent to 8.17 yuan. Gemdale Corporation sank 3.3 percent to 6.18 yuan. China Merchants Property Development Co retreated 3.6 percent to 19.49 yuan.
The benchmark Shanghai Composite Index was down 1.37 percent, or 35.78 points, to 2,576.41 points. Turnover was 78.4 billion yuan (US$12.3 billion).
Reuters reported on Friday that China has ordered banks to include their margin deposits in required reserves as the central bank steps up ways to mop up excessive liquidity.
Barclays analysts estimated in a research note today that around 900 billion yuan will be drained from the banking system under the new requirement.
China Construction Bank fell 1.32 percent to 4.50 yuan. China Life Insurance Co was down 2.3 percent to 15.87 yuan. Shanghai Pudong Development Bank retreated 3.1 percent to 9.17 yuan.
Beijing Times newspaper reported today the housing ministry is setting up a registration system to track the number of homes owned by individuals in more than 40 cities, dragging down property stocks.
China Vanke Co, the country's largest listed real estate developer, was down 2.5 percent to 8.17 yuan. Gemdale Corporation sank 3.3 percent to 6.18 yuan. China Merchants Property Development Co retreated 3.6 percent to 19.49 yuan.
- 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.
