SHANGHAI: Chinese share prices opened 1.53 percent lower Friday on concerns over fresh monetary tightening measures after bank loans jumped to a fresh record high, dealers said.
Figures released late Thursday by the central bank showed new lending in January alone stood at 803.6 billion yuan (110.08 billion US dollars), up by 237.3 billion yuan from the same month last year.
Meanwhile, a large cash call could also weigh on the market as China Railway Construction, one of China's largest road and rail contractors, said it received the final regulatory nod for its initial public offering in Shanghai.
Subscriptions are set to begin on February 25. The benchmark Shanghai Composite Index, which covers both A and B shares, fell 69.63 points to 4,482.69.
The Shanghai A-share Index lost 73.20 points or 1.53 percent to 4,704.11 points and the Shenzhen A-share Index was down 16.91 points or 1.16 percent to 1,435.58.
Figures released late Thursday by the central bank showed new lending in January alone stood at 803.6 billion yuan (110.08 billion US dollars), up by 237.3 billion yuan from the same month last year.
Meanwhile, a large cash call could also weigh on the market as China Railway Construction, one of China's largest road and rail contractors, said it received the final regulatory nod for its initial public offering in Shanghai.
Subscriptions are set to begin on February 25. The benchmark Shanghai Composite Index, which covers both A and B shares, fell 69.63 points to 4,482.69.
The Shanghai A-share Index lost 73.20 points or 1.53 percent to 4,704.11 points and the Shenzhen A-share Index was down 16.91 points or 1.16 percent to 1,435.58.
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