--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates


Hot Links
China Development Gateway
Chinese Embassies


Worries About First-half Results Trigger Stock Dip
China's shares closed down yesterday after investors dumped stocks in companies expected to post poor first-half results, brokers said.

The benchmark Shanghai composite index, grouping hard currency B shares for foreign investors and yuan-denominated A shares, finished 0.49 percent lower at 1,521.414 points after a 3 percent run-up since the start of July, while the Shenzhen sub-index gained 1.65 points, or 0.05 percent to close at 3378.69.

"Investors are more cautious during the interim reporting season," said analyst Luo Yanxin at China Southern Securities.

The Shanghai composite index should hover around the 1,520-point level in the near term, he added.

More than 1,200 listed firms are required to post results from now until August 31, but most will report in August.

Top Software Co was yesterday's biggest A-share decliner, sliding 5.3 percent to 8.60 yuan. It forecast yesterday an earnings drop of more than 50 percent in the first half of 2003 compared with a year earlier.

Drug and medical equipment maker Benelux topped the B-share decliners' list with a 4.26 percent slide to HK$7.20, after it had also forecast a plunge of more than 50 percent in interim earnings.

The market enjoyed a mild rally in July as domestic investors bought into potential targets under a landmark Qualified Foreign Institutional Investors (QFII) scheme, which admits foreigners into the main US$500 billion stock and debt markets.

Swiss bank UBS AG on Wednesday executed the first trades under the watershed reform, buying into four companies.

Yesterday, shares in Shanghai Container, one of UBS' selections, closed down 0.66 percent at 13.58 yuan (US$1.64) but those in another of UBS' picks, telecommunications gear maker ZTE, rose 0.88 percent to 19.48 yuan (US$2.35).

"The market rally triggered by the first QFII investment lost steam because of concerns over corporate interim results," said analyst Zhu Chaoan at Eagle Securities.

Shanghai's A-share index closed down 0.49 percent at 1,593.397 points, while its Shenzhen counterpart was 0.38 percent lower at 436.26.

China's yuan ended one notch firmer at 8.2771 against the US dollar yesterday, keeping its strength within the managed trading range.

The yuan was sandwiched between 8.2770 and 8.2772 throughout the session, near the firm end of a razor-thin trading range of 8.2760 to 8.2800 that the central People's Bank of China usually enforces.

Turnovers rose to a strong US$720 million from US$630 million on Friday.

Healthy trade surpluses and foreign investment have kept the yuan at the upper end of its band over the past two years.

Dealers said China was exploring ways to make its rigid foreign exchange regime more flexible, but was unlikely to go through with a revaluation this year despite pressure from countries like South Korea, Japan and the United States.

Yesterday, the yuan weakened to 7.0270 against 100 Japanese yen from 7.0142 on Friday and solidified versus the euro to 9.3267 from 9.3708. It closed unchanged against the Hong Kong dollar at 1.0609.

In the futures market, Shanghai copper futures climbed by yesterday's close with some contracts ending at intra-day highs, inspired by buying on the London Metal Exchange that emerged in afternoon trade, traders said.

The most active November 2003 contract closed at a day's high of 17,560 yuan (US$2,121) per ton, up 120 yuan (US$14.49) from a day earlier.

Other contracts ended from 80 yuan (US$9.66) to 130 yuan (US$15.70) higher with combined volume falling to a thin 46,180 lots from Friday's 63,936 lots.

"The Chinese market got a boost from the LME as buying emerged in the afternoon due to fund purchases," said a trader in Shanghai.

"Some investors are also watching to see if the London contract can get past the US$1,740 barrier," he said.

(China Daily July 15, 2003)

Stock: UBS Buying of A Shares Sends Indices Soaring
UBS Buys into Chinese Stock Market
Shares End Lower Despite Landmark Entry of UBS
Telecom Stocks Perk up, Sending Indices Higher
Mid-term Gainers Send Indices Slightly Higher
Stock: Key Index Rebounds from Three-month Low
Indices Continue to Drop in Interim Results Season
Stock: Seasonal Sales Send Indices to New Lows
Stocks Decline on Loans Probe
Indices Edge Upwards on Auto-stock Strength
China Eastern Stock Trading Halts
Stock Nudges Lower, Auto Makers Favored
Indices Rebound Slightly as Travel Advisory Lifted
Print This Page | Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688
主站蜘蛛池模板: 天天摸一摸视频寡妇| 日韩a级毛片免费视频| 婷婷六月久久综合丁香可观看| 五月花精品视频在线观看| 色88久久久久高潮综合影院| 国产激情视频在线播放| 97精品久久天干天天蜜| 日本大片在线播放在线| 亚洲精品综合久久中文字幕 | 国产精品爽爽ⅴa在线观看| freexxxx性女hd性中国| 开心久久婷婷综合中文字幕| 中文字幕精品久久久久人妻| 日本高清乱理伦片中文字幕啊| 亚洲AV日韩AV高潮无码专区| 欧美怡红院免费全部视频| 四虎影视成人永久在线播放| 2021天天操| 在线免费观看中文字幕| m.jizz4.com| 岛国大片在线免费观看| 中文字幕亚洲一区二区va在线| 欧美专区日韩专区| 亚洲精品99久久久久中文字幕| 男人扒开女人的腿做爽爽视频| 国产又色又爽又黄刺激在线视频| AV无码久久久久不卡蜜桃| 小爱同学下载二三三乐园| 中文字幕亚洲综合久久男男 | 免费一级做a爰片久久毛片潮喷| 992人人tv| 在线欧美日韩精品一区二区| 久久99国产精一区二区三区| 欧美性色欧美A在线图片| 亚洲精品无码mv在线观看网站| 狼人无码精华AV午夜精品| 免费看国产精品麻豆| 精品人妻少妇一区二区三区| 午夜激情视频在线| 香蕉视频在线观看网站| 国产成人免费av片在线观看|