China B-shares closed mixed after reserve requirement hike |
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Fri, 07 Sep 2007 08:39
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SHANGHAI (XFN-ASIA) - China B-shares closed mixed, with Shenzhen stocks lower led by property developers, after the central bank announced another hike in the bank reserve requirement, dealers said.The People's Bank of China announced late yesterday that it is raising the commercial bank reserve requirement by half a percentage point, effective Sept 25, 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 rose 0.97 points or 0.29 pct to 332.89 on turnover of 1.33 bln usd and the Shenzhen B-share Index finished down 6.05 points or 0.82 pct at 733.18 on turnover of 860.41 mln hkd.The FTSE/Xinhua China B35 Index was up 11.49 points at 11,241.86.The benchmark Shanghai Composite Index closed down 116.48 points or 2.16 pct at 5,277.18.(1 usd = 7.54 yuan)lilian.wu@xfn.com-xfnlw/xfntmCOPYRIGHTCopyright 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 B-shares close higher despite reserve requirement hike 