The story appears on

Page A12

May 16, 2012

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Business » Finance

Weak data drag index to lowest level in 4 weeks

SHANGHAI stocks dropped yesterday to their lowest level in four weeks after official data showed that foreign direct investment in China fell for the sixth straight month in April.

The Shanghai Composite Index shed 0.25 percent to end at 2,374.84 points.

The dismal economic data underscored the risk that China's economic slowdown may deepen further after exports and industrial output growth stalled last month.

Inbound investment fell 0.74 percent in April from a year earlier to US$8.4 billion, and in the first four months it lost 14 percent to US$37.9 billion, the Ministry of Commerce said.

The decline in FDI was partly on the lackluster global economy, Shen Danyang, a ministry spokesman, said yesterday.

Lenders fell on weak credit demand amid a cloudy outlook for the economy. The Industrial and Commercial Bank of China, the nation's biggest lender, and China Citic Bank both lost 0.9 percent to close at 4.33 yuan (68 US cents) and 4.36 yuan. The Bank of China shed 0.3 percent to finish at 3.02 yuan.




 

Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend