Chinese Mandarin - Stocks lusterless with lowest turnover in June

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Stocks lusterless with lowest turnover in June

By Li Zengxin (chinadaily.com.cn)
Updated: 2007-06-29 15:50

Special coverage:
Markets Watch   

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Chinese stocks kept plunging deep today while awaiting for legislative
approvals on a series of measures that may result in capital diverting to
other investment channels from the stock market.

Total turnover of stocks enclosed by the two major indices was 163.5
billion yuan, the lowest since May 29.

The benchmark Shanghai Composite Index opened nearly 90 points lower from
3,824.29 and closed at 3,820.70, down 93.5 points or 2.39 percent. It
went through the day mostly below yesterday's closing line, except
hitting the highest point at 3,919.35 once in the afternoon. It almost
lost another 100-point grade at 3,800 when it hit the lowest 3,779.81 in
the morning, but bounced back afterwards.

Shanghai Composite Index
Source: www.sina.com.cn

Of the A shares listed on the Shanghai bourse, 106 went up, but 665
dropped and 78 ended unchanged. Shanghai Airlines grew 10.05 percent to
6.24 yuan as the top gainer, followed by Jiangsu Shuangliang
Air-Conditioning Equipment with a 10.01 percent rise. Inner Mongolia
Mengdian Huaneng Thermal Power, however, dropped 10.06 percent to lead
the other falling shares.

China Unicom, with the largest trading volume, added up 0.11 yuan to its
share price while China Yangtze Power, with the largest transaction
value, slipped 0.01 yuan by the closing.

The Shenzhen Component Index, tracking the smaller Shenzhen Stock
Exchange, opened lower from 12,555.51 and closed at 12,546.45, 335.73
points or 2.61 percent lower than yesterday's closing. It went through
the day within a range from 12,341.58 to 12,862.28, both lower than the
previous closing level.

Shenzhen Component Index
Source: www.sina.com.cn

Of its A shares, 62 gained, 94 ended flat but 488 lost in prices. The new
share Shenzhen Topband Electronics took up the top place in the gainer's
list by rocketing 473 percent to 60 yuan on its first trading day. On the
other side of the table, Shandong Shanda Wit Science and Technology fell
to the bottom with a 10 percent slump.

Henan Shuanghui Investment and Development, resuming trading today, saw
the largest trading volume and transaction value at the Shenzhen bourse,
and rose 125 percent to 57.9 yuan.

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(For more biz stories, please visit Industry Updates)

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