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Stocks lose 4,200-point ground after sudden divings, 06/20

By Li Zengxin (chinadaily.com.cn)
Updated: 2007-06-20 16:07

Special coverage: Markets Watch  Related readings:  Stocks edge up amid price correction, 06/19  Stocks regain 4,200-point battleground, 06/18  Stocks finish up amid frequent swings, 06/15

Chinese stocks were dragged down 2.07 percent by a few sudden divings and lost the 4,200-point ground, after edging up for most of the day and twice hitting through the 4,300-point mark. Total turnover of the stocks enclosed by the major indices was 300.7 billion yuan, higher than that of yesterday.

The Shanghai Composite Index closed at 4,181.32, down 88.2 points from yesterday's closing. Opening flat from 4,269.46, the benchmark index moved up amid fluctuations in the morning and hit through the 4,300-point, with the highest at 4,312.00, raising expectations for a higher platform. However, it kept slipping in the afternoon and dived nearly 80 points to the daily lowest of 4,164.27 in minutes soon before the closing.

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

At the Shanghai exchange, only 156 A shares went up, while 631 closed down and 52 finished unchanged. Zhejiang HSD Industrial rose 10.05 percent to 8.32 yuan on top of the gainer's list. Linca Shanghai and SGSB Group were also sealed at the maximum cap of 10 percent rise. Hangxiao Steel Structure, however, dropped nearly 10 percent as the biggest loser.

Sichuan Changhong Electric, resuming trading today, saw both the largest trading volume and transaction value in Shanghai and dropped 5.25 percent to 11.38 yuan.

The Shenzhen Component Index, tracking the smaller Shenzhen Stock Exchange, closed at 14,107.23, down 229.17 points or 1.6 percent. It went through the day within a range from 14,005.28 to 14576.00.

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

Of it's A shares, 96 went up while 444 down and 73 flat. Shenzhen International rose 10.76 to lead the few rising stocks while Chongqing Yukaifa lost the biggest proportion in the dive.

China Vanke, with the largest trading volume, was 0.74 yuan down and Shenzhen Development Bank, resuming trading from the split share reform, with the largest transaction value, gained 8.71 percent to 31.19 yuan.

B shares dropped. Of the 109 B shares listed on the two bourses, only 17 rose and 10 ended flat. SGSB Group also saw its B shares sealed at the maximum cap of 10 percent growth, on the top of the gainer's list. Closed-end funds were all down today.

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