标题: [转贴] China’s Stocks Drop Most this Month After Economy Slows [打印本页] 作者: 何鸿燊 时间: 2011-10-17 22:33 标题: China’s Stocks Drop Most this Month After Economy Slows
China’s Stocks Drop Most this Month After Economy Slows More than Expected
By Bloomberg News - Oct 17, 2011
China’s stocks fell, driving the benchmark index’s biggest loss this month, after the world’s second-biggest economy grew at the slowest pace in two years.
PetroChina Co. and Jiangxi Copper Co., the largest oil and copper producers, dropped more than 1 percent after China’s gross domestic product rose 9.1 percent in the third quarter. Agricultural Bank of China Ltd. slid for the first time in seven days after Jim Chanos said he was negative on the lender. China Vanke Co. and Poly Real Estate Group Co. led losses for developers after Shanghai’s home sales slid in the first nine months. Sinohydro Group Ltd. shares jumped 7.1 percent in the country’s biggest initial public offering this year.
The Shanghai Composite Index slid 33 points, or 1.3 percent, to 2,407.82 at 10:13 a.m., the most since Sept. 26. The CSI 300 Index declined 1.4 percent to 2,629.99. Stock markets across Asia dropped today after German Chancellor Angela Merkel’s office knocked down what it called “dreams” that the Oct. 23 summit will be the last word in taming the crisis.
The Shanghai index has tumbled 14 percent this year, driving down estimated price earnings to 11.1 times, compared with the record low of 10.8 times set on Oct. 10, according to data compiled by Bloomberg. China has raised interest rates three times in 2011 and ordered lenders to set aside a bigger portion of their deposits to curb inflation that’s near a three- year high.
The GDP gain was less than the median estimate of 9.3 percent in a Bloomberg News survey of 22 economists and follows a 9.5 percent gain in the previous three months. The statistics bureau released the data in Beijing today.
