Monday
Dec 01st
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| After dipping to an intraday low of 2,430.85 in the first hour of trading on Tuesday, Chinese shares steadied thanks to easing inflationary pressures. The Shanghai Composite Index slid 12.87 points, or 0.52%, to close at 2,457.20. The Shenzhen Component Index eked out 22.65 points, or 0.28%, to close at 8,192.80. Turnover on the Shanghai market hit a 21-month low at RMB 32 bln. Olympic-related stocks continued to slide, with 40% of stocks in this niche losing more than 5%. In the midst of the session the National Bureau of Statistics revealed that the consumer price index, a key inflation indicator, rose by 6.3% in July from a year earlier. This third consecutive month of easing marked the slowest climb in the last ten months. The steel sector outperformed the broader market, led by Baoshan Iron & Steel, the country's biggest steelmaker, which was up 2.6% to close at RMB 7.11. Brokerages led a downturn in the financial sector on concerns that shrinking turnover will slash their commissions and fees. CITIC Securities, despite reporting a 13% YOY net profit increase and EPS of RMB 0.72 for 1H '08, tumbled 8.03% to RMB 17.99 by the close. |
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