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BIZCHINA / Index & Statistics
Stocks tumble amid price adjustments
By Li Zengxin (chinadaily.com.cn)
Updated: 2007-08-29 16:34
Chinese stocks continued price adjustments today, with both indices
mostly running low through the day.
Some experts believe the special bond issuance today may have resulted in
the sluggish performance, but more saw the performance as an inevitable
correction phase as stocks have been breaking historical highs for more
than a week.
Total turnover of the stocks in the major indices shrank to 249 billion
yuan (US$32.98 billion).
Shanghai Composite Index
Source: sina.com.cn
The Shanghai Composite Index opened lower at 5,063.41 and ran through the
trading session under yesterday's closing level except for once hitting
the 5,204.53 at 10:30. It also fell past the 5,100-point mark to 5,063.41
twice. Losing support by large cap blue chips, the index finished at
5,109.43, down 85.26 points or 1.64 percent.
Of the A shares listed in Shanghai, 282 went up, 496 closed down and 64
remained unchanged. Twenty stocks were sealed at the maximum daily growth
limit of 10 percent, led by Xinjiang Talimu Agriculture Development,
rising to 8.31 yuan on a 10.07 percent surge. The Industrial and
Commercial Bank of China, with the largest trading volume, lost 2.61
percent while Chalco, with the largest transaction value, added up 0.38
yuan to its share price.
Shenzhen Component Index
Source: sina.com.cn
The Shenzhen Component Index, tracking the smaller Shenzhen Stock
Exchange, closed at 17,443.19, down 374.74 points or 2.1 percent from
yesterday's close. Opening lower from 17,688.62, it went through the day
within a range between 17,418.53 and 18,051.72.
Of the A shares listed on the Shenzhen bourse, 192 rose, 371 fell and 76
ended flat. Beijing Shougang was the most heatedly traded share in terms
of trading volume and surged 2.3 percent. Another large trader China
Vanke, however, fell to 34 yuan after a 0.79 yuan cut in price.
Stocks in the commercial trade industry were stronger than the others as
Lanzhou Minbai Shareholding Group led half of the listed retail and
wholesale businesses on a surge. Both B shares and listed closed-end
mutual funds were down today.
(For more biz stories, please visit Industry Updates)
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