1. LINE

      Text:AAAPrint
      Economy

      Stocks make sharpest daily decline since 2007

      1
      2015-07-27 16:24chinadaily.com.cn Editor: Si Huan

      Stocks dived on Monday, with the benchmark Shanghai index tumbling the most in eight years, amid concerns that a government-supported market rebound is unsustainable.

      The Shanghai Composite Index closed at 3,725.56, down 8.5 percent, while the Shenzhen Component Index sank 7.6 percent to 12,493.05.

      More than 1,000 stocks slid by the daily limit of 10 percent to a halt, led by finance and resources sectors.

      China National Petroleum Corp and Sinopec Group, the country's State-owned oil giants and heavily-weighted stocks of the Shanghai gauge, fell 9.6 and 10 percent respectively.

      The finance industry gauge sank 9.1 percent on Monday, as banks, brokerages and insurers all edged down.

      Bank of Communications, Huaxia Bank, Ningbo Bank, Beijing Bank, Nanjing Bank, New China Life Insurance, China Pacific Insurance, and China Life Insurance tumbled 10 percent. About 22 brokerages fell by the daily limit of 10 percent.

      The daily turnover reached 1.3 trillion yuan. Latest data showed the outstanding balance of margin trading at the Shanghai bourse fell for the first time in five days to 940.8 billion yuan as of Friday.

      The rout put an end to a six-day rally after the Shanghai gauge rebounded 16 percent from its July 8 low through Friday, as regulators took a string of moves to shore up the market, which included suspending initial public offerings, banning major shareholders from selling, investigating into "malicious" short-selling and granting government agency liquidity to help finance stock purchases.

      The retreat came as profits at major industrial firms dropped 0.3 percent year-on-year in June, down from a 0.6 percent growth posted in May, the National Bureau of Statistics (NBS) said on Monday.

      Growth in profits was significantly weaker in the first half of 2015, suggesting monetary policy needs to remain accommodative, said Nomura in a note, adding that the central bank will likely to cut reserve requirement ratio (RRR) in August as "the improvement in growth momentum is still fragile".

      The country's manufacturing activities continued to decline in July, as the Caixin flash Purchasing Managers' Index fell to a 15-month low to a much weaker-than-expected 48.2 from 49.4 in June.

      The CSI 300 Index dived 8.6 percent to 3,818.73 on Monday.

        

      Related news

      MorePhoto

      Most popular in 24h

      MoreTop news

      MoreVideo

      News
      Politics
      Business
      Society
      Culture
      Military
      Sci-tech
      Entertainment
      Sports
      Odd
      Features
      Biz
      Economy
      Travel
      Travel News
      Travel Types
      Events
      Food
      Hotel
      Bar & Club
      Architecture
      Gallery
      Photo
      CNS Photo
      Video
      Video
      Learning Chinese
      Learn About China
      Social Chinese
      Business Chinese
      Buzz Words
      Bilingual
      Resources
      ECNS Wire
      Special Coverage
      Infographics
      Voices
      LINE
      Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.
      主站蜘蛛池模板: 亚洲国产美女精品久久久| 久久精品国产亚洲AV麻豆网站| 亚洲偷自拍另类图片二区| 97性无码区免费| 亚洲精品在线电影| 4399影视免费观看高清直播| 久久精品a亚洲国产v高清不卡| 足恋玩丝袜脚视频免费网站| 亚洲天天做日日做天天看| 久久午夜羞羞影院免费观看| 亚洲无线电影官网| 亚欧在线精品免费观看一区| 亚洲激情校园春色| 免费的黄色的网站| 日批视频网址免费观看| 国产亚洲综合久久| 亚洲AV无码乱码精品国产| 一区二区免费国产在线观看| 久久亚洲高清综合| 久久午夜夜伦鲁鲁片免费无码| 亚洲一区二区三区日本久久九| 国内精品免费麻豆网站91麻豆| 亚洲三级在线观看| 亚洲国产成人久久精品99 | 亚洲欧洲日本国产| 黄色片在线免费观看| 久久精品无码专区免费| 亚洲国产另类久久久精品小说| 日本高清在线免费| 亚洲AV无码资源在线观看| 伊人亚洲综合青草青草久热| 免费不卡在线观看AV| 亚洲狠狠婷婷综合久久蜜芽| 亚洲一区二区视频在线观看| 亚洲免费视频播放| 国产亚洲精品欧洲在线观看| 亚洲色欲一区二区三区在线观看| 曰曰鲁夜夜免费播放视频 | 亚洲国产精品免费视频| 国产在线国偷精品产拍免费| 全部在线播放免费毛片|