Monday
Dec 01st
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| Chinese stocks took a dive on Friday, shedding more than 4% and showing none of the stability called for by the nation's regulators and decision-makers. Displaying little support for tonight's Beijing Olympics opening ceremony, the Shanghai Composite Index dropped 121.86 points, or 4.47%, to close early at 2,605.72. The Shenzhen Component Index closed at 8,658.78, down 376.51 points or 4.17%. Combined turnover rocketed by more than 20%, though only 31 stocks had closed higher by the bell. The financials and the airlines led the session's decline. China Life and Ping An Insurance, the country's top two insurers, dropped 4.36% and 5.35% respectively. ICBC, the largest Chinese lender by market value, skidded by 3.1%. Air China, China Southern Airlines and China Eastern Airlines, the country's top three carriers, plunged by 9.9% combined, with Air China closing at its intraday minimum limit. Coal stocks, which have been sluggish for days due to retreating oil prices, outperformed the broader market on the day. |
Sectors
Mining & Metals
Zhang Yanqing Elected General Manager
(600001) HANDAN IRON & STEEL CO.,LTD
At the 10th Meeting of the fourth Board of Directors, held on 26 Nov 2008, a proposal was reviewed and approved to replace certain senior managers of the company. Wang Junjie would no longer hold his
Banking & Finance
Nine month 2008 Financial Report Approved
A detailed report, dated 24 Nov
(601939) CHINA CONSTRUCTION BANK CORPORATION
At the 27th Meeting of the second Board of Directors, a financial report for the first nine months of 2008 (compliant with international standards), was approved.A detailed report, dated 24 Nov
Technology
RMB 41.98 Mln Conveyor Systems to be Supplied
conveyor systems for
(002009) JIANGSU MIRACLE LOGISTICS SYSTEM ENGINEERING CO., LTD.
The company recently received a notice from Haima (Zhengzhou) Automobile Co., Ltd., stating that the company has won a bid for the supply ofconveyor systems for
Real Estate
CSRC Approved Corporate Bonds Issuance
(000616) YELAND GROUP CO., LTD.
On 26 Nov 2008, at the 148th 2008 Meeting of Issuance Review Committee of the China Securities Regulatory Commission, the company's application for an issue of corporate bonds was conditionally