China B-shares lower on profit-taking; airlines retreat - UPDATE |
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Tue, 04 Sep 2007 09:01
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SHANGHAI (XFN-ASIA) - China B-shares closed lower as investors locked in profits after recent gains, with transport and property stocks leading the decline, dealers said.The Shanghai B-share Index fell 3.10 points or 0.94 pct to 327.92 on turnover of 1.10 bln usd and the Shenzhen B-share Index finished down 6.18 points or 0.82 pct at 744.67 on turnover of 750.42 mln hkd.'Profit-taking spread from A-shares to the B-share market, triggered by a large bank's IPO news,' said a Shanghai analyst who asked not to be identified. 'Airlines retreated after their rally yesterday on China Eastern Airlines' news.'The China Securities Regulatory Commission said it will review on Sept 7 China Construction Bank Corp's (HK 0939) application for an initial public offering (IPO) in Shanghai.On the Shanghai market, Hainan Airlines Co Ltd (SHB 900945; SHA 600221) lost 0.034 usd to 1.142, having gained 7.50 pct in the previous session.Shanghai Wai Gaoqiao Free Trade Zone Development Co Ltd (SHB 900912; SHA 600648) dropped 0.024 usd to 1.071.On the Shenzhen market, Shenzhen Special Economic Zone Real Estate (Group) Co Ltd (SZB 200029; SZA 000029) tumbled 0.57 hkd to 5.53.Shandong Airlines Co Ltd (SZB 200152) fell 0.24 hkd to 4.79.The FTSE/Xinhua China B35 Index ended down 74.38 points at 11,177.37.The benchmark Shanghai Composite Index closed down 27.01 points or 0.51 pct at 5,294.05.(1 usd = 7.55 yuan)lilian.wu@xfn.com-xfnlw/xfnjanmCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Hong Kong shares end morning lower on profit-taking; China Eastern Air up 88 pct 