www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Markets

Mainland shares fall amid growth concern

(China Daily) Updated: 2012-07-24 10:33

Economy may lose steam as EU crisis 'takes toll on exports'

The mainland's stocks fell, dragging the benchmark index down to the lowest level since March 2009, after a central bank adviser said economic growth will slow this quarter and as Europe's crisis worsened the outlook for exports.

Jiangxi Copper Co and China Shenhua Energy Co led a decline among commodity producers on concern weaker growth will sap demand for raw materials.

China Pacific Insurance (Group) Co, the nation's fourth-largest insurer, dropped 2.2 percent after funds controlled by Carlyle Group LP offered to sell its Hong Kong-listed shares. Weichai Power Co, a maker of high-speed heavy-duty diesel engines, slumped the most since November 2010 after estimating a drop in its second-quarter profit.

"The economy is still on a downtrend and that means corporate earnings could be worse than expected," said Wu Kan, a Shanghai-based fund manager at Dazhong Insurance Co, which oversees $285 million.

The Shanghai Composite Index dropped 1.3 percent to 2,141.40 at the close, the lowest level since March 13, 2009. The CSI 300 Index slumped 1.4 percent to 2,365.43. The Bloomberg China-US 55 Index, the measure of the most-traded US-listed Chinese companies, retreated 0.6 percent in New York on Friday.

Thirty-day volatility in the Shanghai index was at 15.1 on Monday, compared with this year's average of 17.9. About 6.4 billion shares changed hands in the gauge on Friday, 23 percent lower than the daily average this year.

Asian stocks dropped, with the regional benchmark index headed for the biggest two-day loss in seven weeks.

Hong Kong's Hang Seng Index fell 3 percent, the biggest drop since May 16.

Japan's Nikkei 225 Stock Average declined 1.9 percent as the yen reached an 11-year high against the euro, weighing on the nation's exporters. South Korea's Kospi Index slid 1.8 percent.

Slower growth

The Shanghai Composite Index fell 0.8 percent last week on concern earnings will deteriorate and as the government said it won't ease property curbs. The measure has fallen 13 percent from this year's high on March 2 amid concern an economic slowdown is deepening. It's valued at 9.5 times estimated profit, compared with the average of 17.5 since Bloomberg began compiling the data in 2006.

The mainland's economic growth may cool to 7.4 percent this quarter, Song Guoqing, a member of the People's Bank of China monetary policy committee, said at a forum in Beijing over the weekend. He also warned that a decline in producer prices in tandem with consumer inflation may hurt investment returns of industrial companies, damping their desire to expand.

'More pessimistic'

"The consensus is that the economic growth rate will be close to 8 percent in coming months, but I personally am more pessimistic because there are problems on the export side," Song said.

With Europe's debt crisis still unfolding, "there is a risk of insufficient government measures if exports fall more sharply than expected in coming months", he said.

The world's second-largest economy grew 7.6 percent in the second quarter, the least in three years. Import and export growth both slowed in June.

HSBC Holdings PLC and Markit Economics are scheduled to release their preliminary manufacturing index for this month on Tuesday. The reading was at 48.2 in June, below the 50 dividing line for expansion and contraction.

In Europe, German Vice-Chancellor Philipp Roesler said he's "very skeptical" that European leaders will be able to rescue Greece.

Roesler, who is also Germany's economy minister, told broadcaster ARD that Greece was unlikely to be able to meet its obligations under a eurozone bailout program as its international creditors hold talks this week in Athens. Should that be the case, the country won't receive more bailout payments, Roesler said.

Bloomberg

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 日韩精品免费看 | 久久在线视频 | 色网址在线 | 91亚洲综合 | 欧美日韩亚洲综合在线一区二区 | 成年人视频在线免费看 | 欧美三级视频在线观看 | 欧美色视频日本片高清在线观看 | 高清精品一区二区三区一区 | 亚洲高清一区二区三区 | 欧美二区在线观看 | 国产成人黄网址在线视频 | 久久毛片久久毛 | 一区二区三区中文字幕 | 成人国产亚洲欧美成人综合网 | 51国产偷自视频区视频手机播器 | 一级不卡毛片免费 | 免费午夜不卡毛片 | 正在播放国产大学生情侣 | 中文字幕在线无限2021 | 日本xxxxx久色视频在线观看 | 萌白酱香蕉白丝护士服喷浆 | 欧美日韩性视频一区二区三区 | 欧美一级免费在线观看 | 香蕉网影院在线观看免费 | 亚洲欧美在线综合一区二区三区 | 在线免费自拍 | 日韩欧美一区二区久久 | 欧美一级影院 | 亚洲欧美一区二区三区孕妇 | 麻豆传媒一区 | 亚洲成人自拍网 | 欧美级毛片 | 国产成人免费午夜性视频 | 一级黄色录像片 | 99re免费99re在线视频手机版 | 一区二区3区免费视频 | 美女张开腿让人捅 | 午夜宅男宅女看在线观看 | 日韩欧美视频一区二区三区 | 国产精品一区二区三区四区五区 |