Related News
Tech firms, real estate jitters drag down Shanghai shares
Online Edition
SHANGHAI stocks tumbled this morning as small-cap technology firms followed the fall of their peers in the Shenzhen market while investors anticipate possible policy tightening after China reported rising home prices.
The key Shanghai Composite Index lost 1.17 percent, or 25.79 points, to 2,184.87. Turnover was 81.6 billion yuan (US$13.4 billion) by the noon break.
Medical equipment makers and IT companies slumped on cue from the Shenzhen bourse with the ChiNext, a gauge of growth enterprises on China’s Nasdaq-style board, falling 3.8 percent to 1,298.67 points, paring a gain of more than 80 percent this year.
Top Choice Medical Investment Co lost 3.9 percent to 33.70 yuan. Shinva Medical Instrument Co fell 3.8 percent to 60.72 yuan.
Dr Peng Telecom & Media Group Co shrank 4.9 percent to 18.40 yuan. Bright Oceans Inter-Telecom Corporation plunged 9.5 percent to 10.13 yuan.
Most property developers declined as Dongguan Securities said the rising home prices have fueled speculations that the central government may tighten control on the real-estate market.
Data released by the National Bureau of Statistics yesterday showed that prices of new homes rose in 65 of the 70 cities monitored in September.
Shanghai Industrial Development Co, which engages in real estate development and management, lost 5.7 percent to 8.34 yuan. Gree Real Estate Co fell by the daily limit of 10 percent to 8.21 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.
