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Lackluster sentiment overshadows share market
28/12/2005 9:31

Leo Zhang/Shanghai Daily news

Shanghai shares dipped yesterday on media reports that fewer investors traded in November on concerns the market may further sink.
The Shanghai Composite Index, which groups both yuan-denominated A shares and hard-currency B shares, eased 0.22 percent to 1,154.29. The A-share index shed 0.22 percent to 1,213.89 while the B-share index edged up 0.20 percent to 61.28.
"The market has long been riddled by lackluster sentiment," said Lu Chengde, a Guosen Securities Co trader. "Besides, investors tend to siphon funds out towards the end of the year."
In November, a total of 25.6 million individual accounts traded shares and bonds on the Shanghai and Shenzhen bourses, a drop of 94,900 accounts from a month earlier, the Shanghai Securities News reported, citing data from China Securities Depository & Clearing Corp.
It's the third month in a row that China's stock bourses have lost investors, the paper said.
Besides, nearly 77 percent of stock investors lost money on the markets this year, Xinhua news agency said, citing a survey conducted by China Securities Journal and Huading Investigation Co.
China Yangtze Power Co, operator of the world's biggest hydropower project, slipped 1.42 percent to 6.93 yuan (86 US cents).
China Petroleum & Chemical Corp, Asia's biggest oil refiner, slipped 0.22 percent to 4.58 yuan.