China B-shares end morning mixed after bank reserve requirement hike |
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Fri, 07 Sep 2007 05:14
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SHANGHAI (XFN-ASIA) - China B-shares ended the morning session mixed, with Shenzhen stocks led lower led by property developers after the central bank announced another hike in banks' reserve requirement ratio.The People's Bank of China announced late yesterday that it is raising commercial banks' reserve requirement ratio by half a percentage point, effective Sept 25, in the seventh such move this year.The latest hike brings the reserve ratio for most Chinese banks to 12.5 pct.The Shanghai B-share Index was up 1.37 points at 333.29 while the Shenzhen B-share Index was down 5.54 points at 733.69.The FTSE/Xinhua China B 35 Index was up 11.32 points at 11,241.69.The benchmark Shanghai Composite Index ended the morning down 21.89 points or 0.41 pct at 5,371.78.(1 usd = 7.54 yuan)lilian.wu@xfn.com-xfnlw/xfnrcCOPYRIGHTCopyright 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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China shares lower in early trade after reserve requirement hike 