Related News
Stocks shed 0.58% in morning trade
By Lu Nengneng |
February 14, 2012, Tuesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index dropped in morning trade as the market continued to consolidate amid tight liquidity.
The Shanghai Composite Index shed 0.58 percent to 2,338.12 points. Turnover shrunk to 37.5 billion yuan (US$6 billion).
The consumer price index for January, which rose 4.5 percent from a year earlier compared with 4.1 percent in December, exceeded the market estimate, making it less likely for the central bank to announce another bank reserve requirement ratio cut in the foreseeable future, analysts said.
Financials led the retreat. Industrial and Commercial Bank of China, the country's biggest lender, fell 0.69 percent to 4.34 yuan. China Construction Bank dropped 0.82 percent to 4.82 yuan.
"Though the bank's profit growth is above 16 percent, their endogenous capital is still not enough to help them sustain capital adequacy," Li Yamin, analyst at UBS Securities said, who estimated the banking industry will have to raise 500 billion yuan through refinancing from 2012 to 2013.
The hotel industry rose the most across the board on Valentine's Day. Dong Fang Hotel jumped by the daily 10 percent limit to 7.43 yuan. Shenzhen Century Plaza Hotel gained 6.17 percent to 4.3 yuan.
The Shanghai Composite Index shed 0.58 percent to 2,338.12 points. Turnover shrunk to 37.5 billion yuan (US$6 billion).
The consumer price index for January, which rose 4.5 percent from a year earlier compared with 4.1 percent in December, exceeded the market estimate, making it less likely for the central bank to announce another bank reserve requirement ratio cut in the foreseeable future, analysts said.
Financials led the retreat. Industrial and Commercial Bank of China, the country's biggest lender, fell 0.69 percent to 4.34 yuan. China Construction Bank dropped 0.82 percent to 4.82 yuan.
"Though the bank's profit growth is above 16 percent, their endogenous capital is still not enough to help them sustain capital adequacy," Li Yamin, analyst at UBS Securities said, who estimated the banking industry will have to raise 500 billion yuan through refinancing from 2012 to 2013.
The hotel industry rose the most across the board on Valentine's Day. Dong Fang Hotel jumped by the daily 10 percent limit to 7.43 yuan. Shenzhen Century Plaza Hotel gained 6.17 percent to 4.3 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
