Stocks News
- Shares down on rate hike concerns
Date: 19-Nov-2007 Sources: (Shenzhen Daily)
ECONOMIC data that have heightened expectations of imminent tightening and overnight losses on Wall Street prompted profit-taking in property developers and other blue chips, sending mainland shares lower Friday.
Analysts said they expect trading to be volatile this week, with Petrochina likely to be the major driving force after it joins the Shanghai Composite Index today. The benchmark Shanghai Composite Index fell 0.9 percent to 5,316.27. The Shenzhen Composite Index ended down 1.1 percent at 1,287.97. The Shanghai index will likely find support at the psychological 5,000 level, with upside capped at 5,400 for now, traders said.
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