Stocks down in response to macroeconomic data
Updated: 2007-07-19 16:16
Chinese stocks responded moderately to this morning's release of macroeconomic data for the first half, including a 4.4 percent growth in the consumer price index (CPI) in June which is likely to trigger inflation concerns and tightening measures by the central bank.
Total turnover of the stocks in the two major indices was 95.1 billion yuan, much lower than that of yesterday.
Shanghai Composite Index
Source: www.sina.com.cn
The Shanghai Composite Index ended at 3,912.94, down 17.12 points or 0.44 percent from yesterday's closing. After opening lower at 3,918.54, the benchmark index experienced short-ranged fluctuations, hitting the highest of 3,947.33 in the morning, touching the bottom at 3,887.59 near the close, and managing to stay above the 3,900-mark to the end.
Of the A shares listed in Shanghai, 486 went up, while 296 dropped and 58 ended flat. Bank of Nanjing rocketed up 72.18 percent to 18.94 yuan on its first trading day on the secondary market, to become the top gainer in Shanghai. Zhejiang HSD Industrial and Zhongyan Textiles were also up over 10 percent on top of the list. Ningbo Shanshan, however, lost nearly 10 percent to lead the day's losers.
Following Bank of Nanjing, the Industrial and Commercial Bank of China ranked second on lists for the largest trading volume. China Minsheng Banking followed Bank of Nanjing with the second largest transaction value. Both added 0.02 yuan to their share prices.
Shenzhen Component Index
Source: www.sina.com.cn
The Shenzhen Component Index, tracking the smaller Shenzhen Stock Exchange, opened lower from 12,770.25 and closed at 12,790.94, down 50.57 points or 0.39 percent. It went through the day within a range of 12,711.28 to 12,925.05.
Of its A shares, 339 were up, 206 down, and 71 unchanged. Bank of Ningbo rose 141 percent to 22.13 yuan on its debut as the top gainer and biggest trader today, while Anhui Feiya Textile Development dropped 6.5 percent, at the other end of the list.
Stocks in the real culture and media, electronics and construction industries performed best. Hunan TV and Broadcast Intermediary hiked 7 percent to lead the surge by media shares. B shares ended mixed. Of the 109 listed B shares, 63 went up and five ended flat.
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