Stocks close mixed on market expansion pressure
Updated: 2007-09-21 16:12
Chinese stocks hesitated at the historical 5,500-point mark on news of another gigantic A-share issue by a State company and accumulated concerns over inflation and an overheated economy.
Total turnover of the stocks in the major indices was 229.3 billion yuan, higher than yesterday's weekly low of 216 billion yuan.
Shanghai Composite Index
Source: sina.com.cn
The Shanghai Composite Index closed at 5,454.67, down 15.39 points or 0.28 percent. The index opened higher at 5,482.51 but couldn't form a growth trend. After hitting the highest 5,489.07, it slid all the way to a low of 5,363.35. There it turned up again amid short-ranged swings but had failed to move closer to the 5,500-point mark by the close.
Of the A shares listed in Shanghai, 238 went up, including 15 of them touching the maximum 10-percent growth cap. As many as 539 closed down, and 65 remained unchanged. The largest traders, China Unicom and Sinopec, gained 3.6 and 3.9 percent respectively.
Shanghai Composite Index
Source: sina.com.cn
The Shenzhen Component Index opened higher at 18,277.89 and closed 6.82 points or 0.04 percent at 18,228.57. Of the A shares, 174 closed up, 401 fell and 72 ended flat. It went through the day within a range of between 17,776.55 and 18,330.70.
TCL, with the largest trading volume, grew 2.4 percent while China Vanke, with the largest transaction value, lost 0.56 yuan in share price.
Stocks in the mining sector were particularly strong. Shanghai Datun Energy Resources rose 9.97 percent to 41.25 yuan, leading 25 of the 30 listed mining securities on a surge. Food makers also gained today.
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