Weak data and profit taking hit shares
Print Edition
SHANGHAI stocks yesterday fell for the first time after rising for seven straight trading days, largely due to profit taking and China’s lower manufacturing growth.
The Shanghai Composite Index dipped 0.1 percent to 2,680.16 points.
China’s official Purchasing Managers’ Index dipped to 50.3 in November from October’s 50.8, with the 50-point mark separating growth from contraction. Analysts had expected the PMI to finish at 50.6.
Goldman Sachs said in a statement that the Chinese government’s measures to limit industrial output before the APEC meetings had dented economic growth in the first half of November.
Keda Clean Energy fell by the daily limit of 10 percent to 19.53 yuan (US$3.17), Gem-Year Industrial lost 6.65 percent to 18.82 yuan, and Lanzhou Greatwall Electrical shed 5.85 percent to 11.59 yuan.
Property stocks fell after China Index Academy said the country’s average new home price fell 1.6 percent year on year in November.
Shanghai Lujiazui Finance & Trade Zone Development lost 7.89 percent to 30.47 yuan. Zhejiang Guangsha fell 4.76 percent to 7.21 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.
