ecns [expanded by feedex.net]: Shanghai index dips 0.22 pct on weak FDI data

ecns [expanded by feedex.net]

ecns

Shanghai index dips 0.22 pct on weak FDI data
http://www.ecns.cn/business/2013/06-18/68872.shtml
Jun 18th 2013, 04:48



2013-06-18 13:48 Shanghai Daily Web Editor: qindexing


Shanghai stocks extended yesterday's losses as data showed foreign direct investment in China slowed in May. The Shanghai Composite Index lost 4.65 points, or 0.22 percent, to 2,151.57. Turnover stood at 36.8 billion yuan ($6 billion) by midday.


Foreign direct investment in China rose only 0.29 percent from a year earlier to US$9.3 billion in May, down from April's rise of 0.4 percent. The country's FDI grew a paltry 1.03 percent year on year in the first five months to US$47.6 billion, the Ministry of Commerce said today.


Small-cap firms led the market down. Beijing Capital Co, a company specializing in sewage treatment, lost 1.8 percent to 7.17 yuan. Tianjin Capital Environmental Protection Group dropped 1.8 percent to 8.19 yuan.


Most property developers gained after the National Bureau of Statistics said today that home prices rose in 69 of the 70 mainland cities monitored in May.


Poly Real Estate, China's second-largest homebuilder, added 0.2 percent to 10.99 yuan. Gemdale Corporation rose 1.7 percent to 6.67 yuan.


Lenders advanced after the Central Huijin Investment Ltd, a unit of China's sovereign wealth fund, increased its holdings in the country's four biggest banks. ICBC, the nation's largest lender, added 0.5 percent to 4.14 yuan. China Construction Bank rose 0.4 percent to 4.65 yuan. Agricultural Bank of China gained 0.7 percent to 2.69 yuan.





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