Stocks News
- Stocks end off highs as banks pull back
Date: 5-Jan-2007 Sources: (Shenzhen Daily)
THE main stock index ended well off its highs Thursday as the biggest banks, which had soared earlier in the day, pulled back sharply in the final 15 minutes of trade.
The benchmark Shanghai Composite Index, which had climbed as much as 6.43 percent to an all-time high of 2,847.615 points in the morning, ended just 1.5 percent higher at 2,715.719 in extremely heavy trade.
Bank of China, which had risen its 10 percent daily limit to 5.97 yuan (US$0.75), closed 3.68 percent higher at 5.63 yuan. Industrial & Commercial Bank of China, the most heavily weighted stock, rose 9.52 percent at one stage but ended 2.42 percent lower at 6.05 yuan.
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