Markets

U.S. open in 10 hrs, 53 mins
10,433.71
-17.24
 
0.16%
2,169.18
-6.83
 
0.31%
1,105.65
-0.59
 
0.05%
100.594
0.4062
 
0.41%
5,323.96
-31.54
 
0.59%
9,405.18
3.60
 
0.04%
22,388.20
-34.94
 
0.16%
0.0004
 
0.03%
-0.53
 
0.60%
1,165.50
0.00
 
0.00%
76.02
0.00
 
0.00%

International Markets

Stocks Bonds Futures Currencies International ETFs

International Market Update

China shares fall on economic policy uncertainty

11/24/09 03:12 EST

SHANGHAI -Chinese shares retreated Tuesday on policy uncertainty ahead of the government's annual economic planning meeting.

The benchmark Shanghai Composite Index plunged by 115.14 points, or 3.5 percent, to close at 3,223.53. The Shenzhen Composite Index for China's smaller second exchange lost 4.3 percent to 1,175.01.

Investors worry that the government meeting this month might issue policy changes that could reduce liquidity, said Zheng Gang, an analyst for Yingda Securities in the southern business center of Shenzhen. Regulators ordered Chinese banks on Monday to control lending and manage risks better.

Before Tuesday's decline, the market had gained 11.4 percent this month.

"With such a rapid growth pace, investors are scared at anything that might move the market," said Zheng.

Bank and resources heavyweights led the drops.

Industrial & Commercial Bank of China Ltd., China's biggest commercial lender, shed 2.7 percent to 5.32 yuan. Bank of China Ltd. slipped 2.3 percent to 4.25 yuan, while China Construction Bank Ltd. dropped by 2.9 percent to 6.1 yuan.

PetroChina Ltd., Asia's biggest oil and gas producer, lost 3 percent to 13.68 yuan, while China Petroleum & Chemical Corp., Asia's largest refiner by capacity, declined by 3.9 percent to 12.15 yuan.

Medical shares fell after surges in previous sessions. Shenzhen Neptunus Bioengineering Co. lost 6.7 percent to 19.5 yuan, while vaccine maker Hualan Biological Engineering Co. declined 5.5 percent to 58.34 yuan.

Steelmakers rose on higher steel prices. Baoshan Iron & Steel Co., China's biggest steel producer, gained 3.4 percent to 8.23 yuan. Inner Mongolia BaoTou Steel Union Co. advanced 7 percent to 5.18 yuan.

In currency markets, the yuan weakened to 6.8293 to the U.S. dollar, down from Monday's close of 6.8281.

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
COMMENTS ( 16 )
Page 1 of 4 1 2 3 4 Next >>
Cnorail
11:24PM Nov 10 2009 
You need to learn English.
REPLY RATING
(0 RATINGS)
 
Jritclinjim
1:40PM Oct 13 2009 
posibly mcane woud be the same , but i saw jobs leaving the us before the electon, hersey is in mexico i know the driver who took the equipment to the border....we need jobs to stay in the us....keep jobs hear, so others will not go, like ford , in ohio that was the main employer west of clevland...no good paying jobs ,more people in forclosure, and no health care...so no cap & trade all homeowners will pay for it, the rich will move ther busness to mexico,or somewhere else
REPLY RATING
(0 RATINGS)
 
LyleVA
9:29AM Oct 1 2009 
It would have made no difference if Obama or Mccain was elected. The major banks were in such BIG trouble via credit schemes and leveraging money that a giant MESS was created during the Bush adminstration. The choices were: save the economy or be prepared for a giant Depression.
REPLY RATING
(3 RATINGS)
 
Murpy7715
4:00AM Sep 21 2009 
Becoming President of the USA by promises and hopes $1 billion Bailing out Banks and companys to put them under your control $9 trillion Taking advantage of the worlds stocks during an asian holiday. Priceless
REPLY RATING
(2 RATINGS)
 
ladyjack004
10:00AM Sep 14 2009 
http://www.onesneaker.com

Air jordan(1-24)shoes $33

UGG BOOT $50

Nike shox(R4,NZ,OZ,TL1,TL2,TL3) $35
Handbags(Coach lv fendi d&g) $35
Tshirts (Polo ,ed hardy,lacoste) $16

Jean(True Religion,ed hardy,coogi) $30
Sunglasses(Oakey,coach,gucci,Armaini) $16
New era cap $15

Bikini (Ed hardy,polo) $25

FREE sHIPPING
http://www.onesneaker.com
REPLY RATING
(0 RATINGS)
 
Page 1 of 4 1 2 3 4 Next >>
GOT SOMETHING TO SAY?
YOU'LL BE ASKED TO REGISTER OR SIGN IN BEFORE POSTING A COMMENT.
Make a Comment
Comment
 

Currency Converter

24/7 Wall St.

    Market Video News

    Watch news from CNBC, Bloomberg and more: Market Video

    Latest Press Releases

    Stay up to date on all company news with the latest press releases.

    Headlines From AOL Money & Finance Partners

    CNBC
    The Big Money
    Smart Money
    Kiplinger.com
    The street

    Visit Money & Finance for stock quotes, the web's best online portfolio manager and the latest business & financial news. Find out about every aspect of personal finance and money management, from finding the best mortgage rates and preventing identity theft to making money, saving money and investing money.