Weak data send index lower
By Ye Zhen |
June 6, 2013, Thursday
|
Print Edition
Print Edition
SHANGHAI stocks fell for a fifth day in a row yesterday after data suggested China's economic growth is losing momentum.
The Shanghai Composite Index edged down 0.07 percent to 2,270.93 points.
The HSBC China Service Purchasing Managers' Index, a gauge of non-manufacturing activity at private and export-oriented enterprises, inched up to 51.2 in May, slightly up from a 20-month low of 51.1 in April, HSBC Holdings Plc and Markit Economics reported yesterday.
A reading of 50 or above indicates expansion.
Meanwhile, data from Shenyin and Wanguo Securities revealed China's four biggest lenders extended 208 billion yuan (US$34 billion) in new loans in May, down from 245 billion yuan in April. The figure also marked the lowest level this year, pointing to a sluggish credit demand from enterpri-ses amid a weaker economy.
The Industrial and Commercial Bank of China shed 0.2 percent to 4.21 yuan. China Construction Bank fell 0.2 percent to 4.78 yuan.
Most solar power-related stocks suffered after the European Union imposed an 11.8 percent tariff on solar panels from China.
EGing Photovoltaic Technology Co dropped 4.3 percent to end at 9.41 yuan. Beijing Jingyuntong Technology Co, a photovoltaic equipment manufacturer, declined 3.5 percent to close at 7.74 yuan.
The Shanghai Composite Index edged down 0.07 percent to 2,270.93 points.
The HSBC China Service Purchasing Managers' Index, a gauge of non-manufacturing activity at private and export-oriented enterprises, inched up to 51.2 in May, slightly up from a 20-month low of 51.1 in April, HSBC Holdings Plc and Markit Economics reported yesterday.
A reading of 50 or above indicates expansion.
Meanwhile, data from Shenyin and Wanguo Securities revealed China's four biggest lenders extended 208 billion yuan (US$34 billion) in new loans in May, down from 245 billion yuan in April. The figure also marked the lowest level this year, pointing to a sluggish credit demand from enterpri-ses amid a weaker economy.
The Industrial and Commercial Bank of China shed 0.2 percent to 4.21 yuan. China Construction Bank fell 0.2 percent to 4.78 yuan.
Most solar power-related stocks suffered after the European Union imposed an 11.8 percent tariff on solar panels from China.
EGing Photovoltaic Technology Co dropped 4.3 percent to end at 9.41 yuan. Beijing Jingyuntong Technology Co, a photovoltaic equipment manufacturer, declined 3.5 percent to close at 7.74 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.
