Worst weekly loss in 2 months for index
Print Edition
SHANGHAI shares edged up yesterday but posted their worst weekly loss in almost two months because capital locked in new initial public offerings diverted funds from other counters.
The Shanghai Composite Index closed 0.2 percent higher at 2,026.67 points. For the week, the key index fell 2.1 percent as at least five companies said they were seeking to lure capital from investors’ existing holdings to their IPOs.
The five IPOs drew around 380 billion yuan (US$61 billion) in bids, media reported yesterday.
Guotai Junan Securities expected the market to rebound soon as it was already close to the bottom.
Technology shares led gains in the market.
Anhui USTC iFlytek Co, developer of a voice-recognition software similar to Apple’s Siri, jumped 6.79 percent to 27.36 yuan. BGCTV, a Beijing-based online TV network operator, gained 2.43 percent to end at 10.43 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.
