Latest News:  
Beijing   Overcast/Cloudy    28 / 22 ℃  City Forecast

Home>>China Business

Shanghai stock index down to five month low as confidence dwindles

By Yu Xi (Global Times)

08:05, June 26, 2012

The Shanghai and Shenzhen stock markets ended with heavy losses Monday, with the Shanghai Composite Index finishing the trading day at the lowest level in five months due to downcast market sentiment.

The Shanghai Composite Index gave up 36.76 points, or 1.63 percent, to close at 2,224.11, while the Shenzhen Component Index slumped 2.77 percent, or 268.47 points, to close at 9,414.21.

Both markets opened lower Monday as last week's bearish downturn continued to darken investor sentiment. However, news that China's Ministry of Civil Affairs had last week announced the establishment of Sansha city - which will administer Xisha, Zhongsha and Nansha islands - helped the harbor and shipping sector advance in morning trading. Gains in the medical, electric power and banking sectors gave markets a nudge throughout the remainder of the session, but losses in the heavily weighted securities, coal and non-ferrous metal sectors sank both indices in the afternoon. The Shenzhen Component slipped to its lowest point so far this month by the end of the day.

Overall, investors adopted a dim outlook toward domestic enterprises after the recent release of HSBC Holdings and Markit Economics' Flash PMI, which has slid to 48.1 in June. Anxieties about the global and domestic economies are becoming more acute and sidelining market participants, analysts say.

Email|Print|Comments(Editor:厉振羽、张洪宇)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Flood hits S China

  2. The vanishing views

  3. "Running on high heels" race held in Romania

  4. Euro 2012: Italy beats England 4-2

Most Popular

Opinions

  1. Property necessary pill for economy
  2. Chinese banks must go global
  3. Putin's visit to Israel more symbolic than strategic
  4. Syria's new government faces escalation of tension
  5. Trade is tool to fix global economy
  6. Skyscraper frenzy brings loan risks to new heights
  7. China to 'maintain 8% growth for over 20 years'
  8. Larger labor force not a panacea for pension woes
  9. "China Containment theory" has no market
  10. Benefits of direct yen-yuan may be few, far between

What's happening in China

Breathtaking glacial sceneries in Tibet

  1. China's oil production slightly down in May
  2. Heavy rains continue to wreak havoc
  3. Banks move to smart cards
  4. Man foils kidnapping attemp
  5. Digging for clues in ancient Qin

China Features

  1. Eurozone should move forward or it will fall over
  2. Food safety rumors have significant social impact
  3. Life in drug rehabilitation center in Hebei
  4. China's first private Perfume Museum
  5. Mengshan Mountain Giant Buddha

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