Latest News:  
Beijing   Cloudy/Overcast    32 / 22 ℃  City Forecast

Home>>China Business

Property stocks collapse in market slump

By Yu Xi (Global Times)

08:15, June 21, 2012

The Shanghai and Shenzhen stock markets retreated Wednesday, extending Tuesday's slump, accompanied by a shrinking trading volume.

The Shanghai Composite Index lost 7.92 points, or 0.34 percent, to close at 2,292.88, while the Shenzhen Component Index sagged 0.27 percent, or 26.37 points, to finish at 9,821.79.

The Shanghai Composite had a few brief spikes above the 2,300 point mark in the morning session, but eventually sank on contractions in the heavily weighted securities and real estate sectors. Despite a short rally thanks to gains in insurance and petroleum stocks, the index was ultimately dragged down by weak market sentiment.

The water supply, gas supply, electronic information and petroleum sectors were strong performers Wednesday, while bio-pharmaceutical, securities, media and real estate stocks led the market in terms of losses.

Most domestic real estate stocks dropped Wednesday following word from the government that curbs on the housing market would continue to be strictly implemented. Shanghai-listed Poly Real Estate Group Co gave up 1.62 percent to 11.54 yuan ($1.81), and Shenzhen-listed Lvjing Holding Co fell 3.91 percent to 7.12 yuan.

Email|Print|Comments(Editor:厉振羽、张洪宇)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Yushan Temple Grottos stands on cliff

  2. Organ donation story moves many

  3. Windy and snowy patrolling road in June

  4. Chinese shows his 'Travel Map for Olympics' in France

Most Popular

Opinions

  1. Trade is tool to fix global economy
  2. Skyscraper frenzy brings loan risks to new heights
  3. China to 'maintain 8% growth for over 20 years'
  4. Larger labor force not a panacea for pension woes
  5. "China Containment theory" has no market
  6. Benefits of direct yen-yuan may be few, far between
  7. Keeping up appearances online proves tough job
  8. Why China's export growth rebounds robustly
  9. Don’t hate the trader, hate the securities game
  10. Master intl rules to solve trade disputes

What's happening in China

College president's foreign assistant

  1. Water diversion project picking up pace
  2. Most buildings not energy-efficient
  3. New residency rule shows bias, migrants say
  4. Local stocks follow losses overseas
  5. New plans for power sector

China Features

  1. Left-behind kids have 'dream house'
  2. China's Olympic history: The road to success
  3. Eight systems of Shenzhou-9 manned spacecraft
  4. The thousand-year-old Tibetan paper
  5. Beijing Summit features five new aspects

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