Top Biz News

    Equities decline on new share sale concerns

    (China Daily/Agencies)
    Updated: 2009-12-26 07:04
    Large Medium Small

    Equities dropped for the first time in three days, paring a weekly gain, on concern new share sales will divert money from existing equities.

    Zijin Mining Group Co and China Shenhua Energy Co, the nation's largest producers of gold and coal, lost at least 1.3 percent as eight companies debuted in Shenzhen's ChiNext market for start-up companies on Friday.

    Pharmaceutical firm Joincare Pharmaceutical Group Industry Co advanced as investors sought so-called safe havens that aren't easily affected by the economic swings.

    The Shanghai Composite Index fell 12.06, or 0.4 percent, to 3141.35 at the close. It added 0.9 percent in the past five days, its first weekly gain in three weeks.

    The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, declined 0.4 percent to 3424.78.

    "The market will see a fluctuating pattern until the end of the year," said Wu Kan, a Shanghai-based fund manager at Dazhong Insurance Co, which manages about $285 million. "The market won't have a strong performance, unless the government slows down new share sales."

    The Shanghai gauge has rallied 73 percent this year as government spending and a credit boom helped the nation's economy recover from its steepest slump in more than a decade. The index has dropped 1.7 percent this month as a flood of share sales diverted funds from existing equities and the government raised down payments on land purchases.

    Mining stocks fall

    Zijin Mining lost 1.9 percent to 9.47 yuan after rising 4.7 percent on Thursday. Shenhua fell 1.3 percent to 32.79 yuan. The stock gained 4.8 percent on Thursday.

    Jiangxi Copper Co, China's biggest producer of the metal, lost 1.7 percent to 37.93 yuan. Zhongjin Gold Corp, the country's second-largest bullion producer by market value, slid 2.6 percent to 56.21 yuan.

    Fresh listings

    Eight companies including Jiangsu Huasheng Tianlong Photoelectric Co and Guangzhou Improve Medical Instrument Co jumped on the first day of trading in the ChiNext market for technology-heavy start-ups.

    Related readings:
    Equities decline on new share sale concerns Chinese equities fall
    Equities decline on new share sale concerns Equities get festive boost across globe
    Equities decline on new share sale concerns Equities dip on policy concerns
    Equities decline on new share sale concerns Equities decline, led by real estate firms

    They are the second batch of companies that have been listed on the market, adding to the first 28 companies that went public at the end of October. ChiNext has less stringent rules for listing compared with the nation's two main exchanges.

    Mainland companies have raised 194 billion yuan ($28 billion) from initial public offerings this year, 87 percent more than the whole of 2008, according to data compiled by Bloomberg, as an improving economy lures investors.

    Joincare Pharmaceutical advanced 6.3 percent to 12.17 yuan, rising for a fifth day. Zhangzhou Pientzehuang Pharmaceutical Co, a manufacturer of Chinese traditional medicine, gained 3.1 percent to 39.08 yuan. A measure tracking health-care stocks gained 1.5 percent on Friday, the second biggest among the CSI 300's 10 industry groups.

     

    国模无码人体一区二区| 无码人妻精品一区二区三区东京热| 国产午夜无码专区喷水| 精品999久久久久久中文字幕| 久久水蜜桃亚洲av无码精品麻豆| 中文字幕在线视频网| 亚洲一本大道无码av天堂| 亚洲AV永久无码区成人网站| 亚洲伦另类中文字幕| 国产日韩精品无码区免费专区国产 | 一级片无码中文字幕乱伦| 性无码专区无码片| 久久无码国产专区精品| 天堂√在线中文最新版| 亚洲男人在线无码视频| 国产拍拍拍无码视频免费| 亚洲情XO亚洲色XO无码| 亚洲中文字幕无码爆乳av中文| 一本一道av中文字幕无码| 亚洲 无码 在线 专区| 国产激情无码一区二区app| 无码日韩精品一区二区免费暖暖| 免费A级毛片无码A∨免费| 最近中文字幕免费大全| 无码av中文一二三区| 亚洲综合日韩中文字幕v在线 | 中文www新版资源在线| 亚洲毛片av日韩av无码| 亚洲综合最新无码专区| 中文字幕理伦午夜福利片| 无码精品第一页| 中文无码喷潮在线播放| 亚洲无码日韩精品第一页| 中文在线最新版天堂bt| 漂亮人妻被中出中文字幕久久| 中文字幕 qvod| 一区二区三区观看免费中文视频在线播放| 中文字幕理伦午夜福利片| 国产精品中文字幕在线观看| 中文字幕日韩一区| 区三区激情福利综合中文字幕在线一区亚洲视频1 |