China A-shares close lower on profit-taking; banks hit |
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Sun, 14 Oct 2007 20:53
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SHANGHAI (XFN-ASIA) - China A-shares closed down -- but well off their lows -- on profit-taking, after hitting a new intra-session record high, dealers said.Banks were hit the hardest, they noted.The benchmark Shanghai Composite Index lost as much as 4.9 pct in the early minutes of the afternoon session before losses narrowed, largely helped by a recovery in ICBC.The index ended the day down 9.97 points or 0.17 pct at 5,903.26, off a new intraday high of 5,959.36.Turnover rose to 219.29 bln yuan from 177.99 bln yuan in the previous session.The Shanghai A-share Index fell 10.87 points or 0.18 pct to 6,196.97 and the Shenzhen A-share Index was down 18.22 points or 1.13 pct at 1,594.33.The FTSE/Xinhua China A 50 Index was down 47.65 points at 22,719.96 and the FTSE/Xinhua China A 200 Index was down 61.86 points at 16,577.61.(1 usd = 7.51 yuan)lilian.wu@xfn.com-xfnlw/xfnjanmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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