Stocks finish mixed amid rate hike anticipation
By Li Zengxin (chinadaily.com.cn)Updated: 2007-05-18 16:14 Amid a wide-spread speculation of another interest rate hike, the driving forces pushing mainland stocks up for the past two days faded today. The benchmark Shanghai Composite Index closed at 4,030.26, down 18.03 points or 0.45 percent.
The index opened lower and went through the day mostly under the previous closing level. It once dropped below the 4,000 mark to hit 3,999.17 as the daily lowest point. But strong buying bids were seen there and turned the index around. It even touched the highest 4,052.10 but failed to stay there.
It seemed the "battle" around the critical barrier of 4,000 point is becoming more and more intense as the stocks had another day of violent fluctuations today.
The Shenzhen Component Index tracking the smaller Shenzhen Stock Exchange, however, closed at 12,100.10, up 89.02 points or 0.74 percent, to be a new record after yesterday's record-breaking closing. It opened higher and went through the day within a bound between 11,919.15 and 12,210.25. Of the A shares, 250 closed up, 228 went down and 132 ended flat.
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