China stocks down 1.41%, property developers hit

13:55, December 21, 2010      

Email | Print | Subscribe | Comments | Forum 

Chinese shares closed down 1.41 percent, led by heavyweight property developers and banks amid fears that the government may impose further measures to curb property prices, dealers said.

The key Shanghai Composite Index was down 40.82 points to 2,852.92 on a turnover of 146.6 billion yuan ($22.0 billion).

Analysts said the market would fluctuate in the next few sessions as long as further tightening measures remain a possibility.

But Guoyuan Securities analyst Simon Wang said that further downside in the market should be limited, as the valuations of many stocks are not expensive.

Property developers were hit, with China Vanke off 1.2 percent at 8.30 yuan ($1.24), China Merchants Property Development down 2.1 percent to 15.99 yuan ($2.4).

Bluechip banks also declined, with ICBC's China-listed shares ending 0.7 percent lower at 4.19 yuan ($0.63) and China Construction Bank off 1.1 percent at 4.66 ($0.70).

Source: Global Times
  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Focus On China
  • Shanghai World Expo 2010
Major headlines
Editor's Pick
  • UN Security Council extends peacekeeping force mandate in Cote d'Ivoire
  • Two dead as rainstorm soaks Los Angeles
  • Olympic torch removed at Bird's Nest
  • David Beckham wins BBC lifetime achievement award
  • Australia swaps summer for white Christmas
  • Traditional Han costumes worn for Winter Solstice in Chongqing
Most Popular
Hot Forum Dicussion