综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

   

China's stock index tumbles below 4,000

By Han Lei (Chinadaily.com.cn)
Updated: 2008-03-13 16:14

A man reads information on an electronic screen at a brokerage house in Shanghai March 13, 2008. China's main stock index tumbled below 4,000 points Thursday to close at 3971.26 points for the first time in seven months, hit by concern about inflation and the market's ability to absorb large new supplies of shares. [Agencies]

China's equity market was hit by a fresh wave of selling on Thursday, amid mounting concerns over accelerating inflation which may prompt further tightening measures by regulators.

The Shanghai Composite Index, the most widely watched indicator, fell 2.43 percent to close at 3,971.26 points, the first close below the 4000-point mark in seven months. The index is 35 percent below October's record intra-day high.

The gauge has lost 28 percent in two months, or 35 percent since peaking in mid-October due to a confluence of factors: a possible recession in the United States which is a key market for Chinese exports, speculations of tighter monetary policy and snowstorms that crippled a large part of the country.

What fuelled investors' anxieties is rising inflation that leaped 8.7 percent year-on-year in February, the fastest pace in nearly 12 years.

Investors feared the People's Bank of China (PBOC) might have to raise interest rates, which is usually the tool-of-choice for central banks in tackling rising cost of living. China has seen 6th rate hikes and 11 increases in bank reserve requirement since the start of 2007.

Those concerns were displayed by sharp declines in steel makers and real estate developers, among the companies most vulnerable to tighter economic policy.

"There is definitely room for further interest rates hikes," China's central banker Zhou Xiaochuan told a press conference last week, while promising to examine the pros and cons carefully.

Worries about corporate earnings, a key pillar of a bull market, especially those that rely heavily on exports, also weighed on the sentiment.

China's exports grew by a meager 6.5 percent in February, a much lower rate than January's 26 percent. That could spur worries that slowing US demand will hurt Chinese exporters and could wipe out thousands of jobs.



Top China News  
Today's Top News  
Most Commented/Read Stories in 48 Hours
芦溪县| 安义县| 中宁县| 兴安县| 英超| 竹山县| 阜宁县| 伊吾县| 黄山市| 乐山市| 扬中市| 东明县| 雅安市| 钟山县| 北海市| 沈丘县| 温州市| 曲周县| 独山县| 修文县| 聂拉木县| 攀枝花市| 石棉县| 紫金县| 沽源县| 琼结县| 渝中区| 鄱阳县| 富锦市| 长沙县| 仁寿县| 忻城县| 兰考县| 内丘县| 昌黎县| 尉犁县| 巨鹿县| 南安市| 基隆市| 老河口市| 公主岭市|