Monday
Sep 08th
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| China's stock markets closed mixed on Friday, with Shanghai down and Shenzhen up. The Shanghai Composite Index saw its short-lived rally end, as it slid 33.64 points, or 1.24%, to stand at 2,669.89. The Shenzhen Component Index posted a 2.55-point gain, equal to a 0.03% increase, closing at 9,400.72. Combined transaction volume slipped approximately 20% from Thursday. China Shenhua led the collective slump in coal stocks, amidst market rumours alleging that the government may impose heavier resource taxes. Certain banking stocks cheered the markets, with ICBC and Shanghai Pudong Development Bank closing 1.05% and 2.60% higher, having announced that they expect 1H 2008 net profit to increase by 50% and 140% YOY respectively. Market movers Sinopec and PetroChina, the country's top two refiners, slid by more than 3% and 2% respectively. |
Sectors
Mining & Metals
Trading Suspension as of 5 Sept 2008
(600001) HANDAN IRON & STEEL CO.,LTD
An unprecedented major asset reorganization is being planned. Relevant issues related to policy consultation and expert review will be conducted with relevant government authorities following the
Banking & Finance
CBRC Approves Equity Acquisition
(600036) CHINA MERCHANTS BANK CO.,LTD
The company has been approved by the China Banking Regulatory Commission to acquire 30 mln shares of Taizhou Merchants Bank Co., Ltd., following which, the company will hold a 10% stake in Taizhou
Technology
RMB 506.6 Mln Guarantees Provided for Subsidiaries
(600198) DATANG TELECOM TECHNOLOGY CO., LTD
The company recently provided guarantees on a RMB 6.9 mln acceptance bill with Bank of Beijing, Zhongguancun Science and Technology Park sub-branch and a RMB 60 mln working capital loan with Huaxia
Real Estate
Performance Brief
During the first seven months of 2008, the company has sold a total land area of
(600048) POLY REAL ESTATE GROUP CO.,LTD
In August 2008, the company sold a total land area of 186,300 sq. meters and realized proceeds of RMB 1.204 bln.During the first seven months of 2008, the company has sold a total land area of
