Latest News:  
Beijing   Sunny/Cloudy    29 / 16 ℃  City Forecast

Home>>China Business

Winning streak ends for mainland stocks

By Wang Jiamei (Global Times)

08:24, May 24, 2012

Both the Shanghai and Shenzhen stock markets snapped their two-day rallies yesterday, accompanied by a moderate increase in trading volume.

The benchmark Shanghai Composite Index slid 0.42 percent, or 9.87 points, to close at 2,363.44, and the Shenzhen Component Index declined 0.36 percent, or 37.07 points, to finish at 10,143.20.

Due to renewed fears that Greece may soon exit the eurozone, the Shanghai Composite opened lower before securities stocks led a rally in the market. Nevertheless, after touching an intra-day high of 2,378.08 points, the index stepped down throughout the rest of the session.

With the help of the cement, real estate and securities sectors, the market recovered some early losses but ended down for the day.

Analysts noted that the retreat yesterday pointed to uncertainties over whether there would be more monetary easing and a continuation to China's economic downturn, and the A-share market is expected to consolidate further if the current financial climate persists.

The shipping, rare earth, nonferrous metals and shipbuilding sectors were the biggest drags yesterday, while securities and property companies outperformed the market.

Southwest Securities Co jumped 6.65 percent to 11.54 yuan ($1.82); Western Securities Co soared 7.54 percent to 19.26 yuan; Shahe Industry Co, a property company, surged 9.94 percent to 7.85 yuan; and China Sports Industry Group increased 7.59 percent to 7.94 yuan.

The two indices together saw 778 stocks gain in value, 1,547 lose and 152 draw even.

Email|Print|Comments(Editor:厉振羽、张洪宇)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Marginal weather flight training

  2. Preview of jewelry auction held in Hong Kong

  3. Longmen Grottos reassessed as national 5A scenic spot

  4. Animal Photography: Portraits of endangered species

Most Popular

Opinions

  1. What is the US' aim behind arms sales to Taiwan?
  2. Investment-driven growth no longer a viable option
  3. Summit can't stop NATO from being marginalized
  4. Easing liquidity not a cure-all
  5. As Beijing remains mum, trade relationships suffer
  6. Intentions behind Japanese right-wingers’ collusion with ‘World Uyghur Congress’
  7. Real intentions of US exercise in Middle East
  8. Short-term trade recovery expected to elude China
  9. Stronger policies needed to push dividend payouts
  10. US, China must co-op to defuse confidence crisis

What's happening in China

Int'l Exhibition on Police Equipment held in Beijing

  1. A blind woman's talent for words
  2. Hunan food poisoning sickens over 100 students
  3. Majority of companies expecting to see profits
  4. Wireless network to cover schools in Shanghai
  5. Seven trapped in SW China mine accident

China Features

  1. High ticket prices, unaffordable landscapes
  2. Huangyan tensions
  3. 2012 Russia-China joint naval exercise
  4. 2nd Beijing International Film Festival
  5. Auto China 2012

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai