| Shares continue to fall due to weak blue chip shares |
| Monday,October 10,2005 Posted: 11:09 BJT(0309 GMT) Xinhuanet |
BEIJING, Sept. 22 (Xinhuanet) -- Chinese stock markets remained bleak Thursday as the shares of major blue chips such as Sinopec and China Unicom continued to drop. The benchmark Composite Stock Index of Shanghai Stock Exchange,which covers yuan-denominated A shares and foreign-currency B shares, closed at 1,159.96 points, down 28.03 points, or 2.36 percent lower. The Component Stock Index of Shenzhen Stock Exchange closed at 2,905.68 points, down 59.8 points, or 2.02 percent lower. Total transaction volume of the two markets stood at 22.3 billion yuan (2.7 billion US dollars). The two major indices dropped 2.03 percent and 1.8 percent, respectively, on Wednesday. Cao Weidong, an analyst with web-based portal Hexun.com, said the continuous drops of the indices were caused by the lack of confidence from investors following Baosteel's failure to stabilize its share prices. Baosteel has spent 2 billion yuan (246 million US dollars) on purchasing its shares from the Shanghai market to maintain its price as it has committed. Gu Jie, an analyst with Hualin Securities Firm, however, blamedthe withdrawal of speculative capital for the market falls. |
| (Source: English Site of Kuching) |
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