Stocks finish with turnover of 133.2b yuan, lowest in 3 months

By Li Zengxin (chinadaily.com.cn)
Updated: 2007-07-02 15:42

Special coverage: Markets Watch
Related readings: Stocks lose another 2.39% with lowest turnover in June, 06/29 Stocks regain 4,000-point ground with 2.65% surge Stock index closes up after diving deep

Chinese stocks had another day of frequent price adjustments today, with the lowest turnover in three months. The Shanghai Composite Index closed at 3,836.29, up 15.59 points or 0.41 percent.

Total turnover of stocks enclosed by the two major indices was 133.2 billion yuan, the lowest since April.

Opening lower from 3,800.23, the benchmark Shanghai Composite Index went through the morning session with modest swings and toughed the highest point of 3,859.86 around 10:30. When trading resumed after the noon break, it slid all the way down to the lowest at 3,724.19 in the first half, but then turned around and managed to finish slightly higher than the previous closing.

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

Of the A shares listed on the Shanghai bourse, 415 went up, but 370 dropped and 54 ended unchanged. Qingdao Aucma grew 10.07 percent to 8.2 yuan as the top gainer, followed by Shandong Dacheng Pesticide and Changchun E&T Development Group, also sealed with the maximum cap of 10 percent growth. Aeolus Tyre, however, dropped 10.02 percent to lead the fall.

China Unicom, with the largest trading volume, added up 0.24 yuan to its share price and Baoshan Iron and Steel, with the largest transaction value, gained 0.71 yuan by the closing.

The Shenzhen Component Index, tracking the smaller Shenzhen Stock Exchange, opened lower from 12,492.71 and closed at 12,475.16, 71.29 points or 0.57 percent lower than Friday's closing. It went through the day within a range from 12,145.00 to 12,675.60.

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

Of its A shares, 295 were up, 242 went down and 77 ended flat. Foshan Plastic Group rose 10.12 percent on top of the gainer's list. But Fujian Sanmu Group lost 10 percent as the biggest loser. Largest traders TCL and China Vanke were both down more than 2 percent.

Stocks in the culture and media, construction and transportation industries were the best performers today. Beijing CCID Media Investments rose 5.14 percent to lead the surge of media shares.

B shares were down. Of the 109 listed B shares, 80 slid and five finished flat. Shanghai Haixin Group was up 6.67 percent as the largest gainer. Most closed-end mutual funds listed on the exchanges plunged today, with both the fund indices down more than 2 percent.
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