Policy speculation takes toll on equities

    Updated: 2011-09-03 10:11

    By Zhang Shidong (China Daily)

      Comments() Print Mail Large Medium  Small 分享按鈕 0

    Policy speculation takes toll on equities
    Stock prices are displayed at a securities house in Shanghai.[Photo/Bloomberg]

    SHANGHAI - Stocks on the Chinese mainland fell on Friday, capping the benchmark index's biggest weekly loss in three months. The retreat was the result of speculation that the government won't ease policy measures to cool inflation, even as economic and earnings growth slows.

    Huaxia Bank Co and Industrial Bank Co led declines for banks after Caijing magazine reported that the odds China will lower the reserve-requirement ratio for small- and medium-sized banks are not big.

    "The economic growth momentum is weak globally and investors are hesitant to increase their risk appetites," said Wei Wei, an analyst at West China Securities Co in Shanghai. "For China, the problem is still inflation and there won't be any easing before prices taper off."

    The benchmark Shanghai Composite Index slid 27.76 points, or 1.1 percent, to 2528.28. It lost 3.2 percent this week, the most since the period ended on May 27, after the central bank ordered lenders to set aside more reserves against margin deposits. The CSI 300 Index fell 1.1 percent to 2803.85.

    The Shanghai gauge has slumped 10 percent this year as the central bank raised interest rates five times and ordered lenders to set aside more cash as deposit reserves 12 times since the start of 2010 to contain inflation. It is valued at 11.6 times estimated earnings, matching a record low set on Aug 22, according to daily data compiled by Bloomberg.

    Huaxia Bank, partly owned by Deutsche Bank AG, slid 2.1 percent to 10.36 yuan ($1.6). Industrial Bank, partly owned by a unit of HSBC Holdings Plc, fell 1.6 percent to 13.18 yuan. Shanghai Pudong Development Bank Co, the Chinese partner of Citigroup Inc, lost 0.9 percent to 9.29 yuan.

    The chance is "quite small" that China's central bank will lower the reserve-requirement ratio for small- and medium-sized banks, Caijing reported, citing Industrial Bank economist Lu Zhengwei.

    China's financial and industrial stock gauges in the CSI 300 slumped more than 3 percent this week after the central bank ordered on Aug 26 that lenders will have to include margin deposits in calculations of their reserve requirements starting from Sept 5. The move is intended to deal with the rapid growth in banks' off-balance sheet lending that's complicating the central bank's attempts to control liquidity, according to Wang Tao, a Hong Kong-based economist for UBS AG.

    Bloomberg News

    在线精品无码字幕无码AV| 精品久久久久久无码免费| 日无码在线观看| 亚洲AV人无码综合在线观看| 制服丝袜人妻中文字幕在线| 国产精品99精品无码视亚| 日本爆乳j罩杯无码视频| 中文字幕无码日韩专区| 国产激情无码一区二区| 中出人妻中文字幕无码| 久久中文字幕视频、最近更新| 中文字幕亚洲综合小综合在线| 久久久久久久人妻无码中文字幕爆 | 大学生无码视频在线观看 | 人妻丰满熟妇岳AV无码区HD| 天堂中文8资源在线8| 国色天香中文字幕在线视频| 精品久久久久久无码专区不卡 | 成人无码WWW免费视频| 最近高清中文在线国语字幕5| 无码专区国产无套粉嫩白浆内射| 熟妇人妻AV无码一区二区三区| 国产台湾无码AV片在线观看| 午夜无码中文字幕在线播放| 中文字幕日本高清| 国产在线精品一区二区中文| 天堂AV无码AV一区二区三区| 国产无码网页在线观看| 国产V片在线播放免费无码| 精品三级AV无码一区| 99国产精品无码| 成人毛片无码一区二区三区| 91精品国产综合久久四虎久久无码一级 | 欧洲精品久久久av无码电影| 亚洲AV无码专区国产乱码电影| 中文无码久久精品| 亚洲精品~无码抽插| 无码精品视频一区二区三区| 欧洲人妻丰满av无码久久不卡| 国产成人AV一区二区三区无码| 2019亚洲午夜无码天堂|