Latest News:  


A-shares down as sell-offs counter strengthening PMI

By Louise Ho (Global Times)

08:44, January 25, 2013

Signs of improvement in China's manufacturing sector weren't enough to prevent stock markets in Shanghai and Shenzhen from ending lower Thursday.

The benchmark Shanghai Composite Index lost 18.31 points, or 0.79 percent, to close at 2,302.60; while the Shenzhen Component Index shed 104.23 points, or 1.09 percent, to finish at 9,444.08.

Combined trading volume at the two exchanges totaled 254 billion yuan ($40.84 billion) Thursday, up from Wednesday's 188.8 billion yuan.

Both indices swung up in morning trading after HSBC's preliminary manufacturing purchasing managers' index (PMI) for January, a widely watched gauge of factory activity, came in with a reading of 51.9, the highest level in two years and the latest indicator that China's economy was pulling out of its recent slump. The data helped the Shanghai Composite reach an intra-day peak of 2,362.94 in mid-morning trading, the highest level in eight months, before both markets tumbled into negative territory amid profit taking.

Military and aviation stocks continued to soar as tensions escalated in the Korean Peninsula. Sichuan Chengfa Aero-Science & Technology Co shot to the daily limit to 13.81 yuan.

The environmental sector was the markets' biggest loser Thursday. Jiangsu Welle Environmental Co shed 6.26 percent to 20.23 yuan.

Coal and agricultural stocks also pulled off weak showings. Henan Shenhuo Coal & Power Co lost 6.65 percent to 7.30 yuan. Shandong Yisheng Livestock & Poultry Breeding Co fell 6.51 percent to 10.63 yuan.

Banking shares had a mostly positive day. China's biggest lender Industrial and Commercial Bank of China Ltd rose 1.43 percent to 4.25 yuan, although Ping An Bank Co declined 2.99 percent to 19.45 yuan.

We recommend:

Report on the rich in China released

Sales boosting measures for Spring Festival

1st express sleeper train starts operation

Top 10 most transparent multinational companies

Top Ten Economic Events in 2012

Beijing leads nation on rich list


Leave your comment0 comments

  1. Name


Selections for you

  1. 'Two Sessions style' of CPPCC meeting

  2. Carrier-based aircraft unit in tactical training

  3. U.S. firearms sale up after gun control

  4. The happiest places in the world

  5. Time to stop waste on dining table

  6. Photos: Amazing China in 1950s

  7. Building on bridge triggers debate

  8. 'Nine Songs' swan song

  9. Heartfelt gifts of life

  10. Davos 2013: Building confidence

Most Popular


  1. Obama's second term: A road covered with thorns
  2. Talk is fine, but how about some changes?
  3. Foreign banks optimistic about Chinese economy
  4. Will Americans be fans of Chinese TV drama?
  5. US should not put new burden on itself
  6. The fiscal cliff and the 'gun cliff'
  7. New measurement may reshape Sino-U.S. trade ties
  8. Warning issued on global economy
  9. The 'artificialness' in Chinese movies
  10. China to ensure appearance of witnesses in court

What’s happening in China

Beijing fantasy emerges in dense fog

  1. Who cares for me after only child died?
  2. Can Chinese save face and save money?
  3. Overseas funding for nursing homes welcomed
  4. Police suspended amid official's property scandal
  5. Mummified bodies found in Beijing flat