Chinese
stocks posted their steepest weekly loss in a month, as slowing growth
in home prices dragged down smaller real-estate companies and China
Merchants Property Development Co. reported a drop in profit.China Merchants Property fell 1.1 percent to a one-month low. China Fortune Land Development Co. and Jinke Properties Group Co. paced losses for developers after official data showed home prices from the first-tier cities to those less affluent all weakened in March. ZTE Corp., China��s second-biggest phone-equipment maker, advanced 0.8 percent after first-quarter earnings more than tripled.
The Shanghai Composite Index dropped 0.1 percent to 2,097.75 at the close. Trading volumes were 19 percent below the 30-day average today, according to data compiled by Bloomberg.
Equity markets including the U.S., Hong Kong and Singapore are closed for a holiday.
The CSI 300 Index slipped less than 0.1 percent to 2,224.48 today, while the Bloomberg China-US 55 Index added 0.7 percent in New York yesterday.
The Shanghai measure slid 1.5 percent this week after official data showed growth in gross domestic product slowed to 7.4 percent in the first quarter from 7.7 percent in the previous period, compared with a 7.5 percent annual target. Industrial production in March and fixed-asset investment for the first three months of the year trailed estimates.
Copy Source : Bloomberg
0 komentar :
Post a Comment