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Chinese Stocks Close Down Monday
Dec 20,2011 08:37CST
data analysis
Source:SMM
Chinese stocks closed lower on Monday after neighboring markets dropped following the death of Kim Jong Il, the top leader of the Democratic People's Republic of Korea (DPRK).

BEIJING, Dec. 19 (Xinhua) -- Chinese stocks closed lower on Monday after neighboring markets dropped following the death of Kim Jong Il, the top leader of the Democratic People's Republic of Korea (DPRK).

The benchmark Shanghai Composite Index dropped 0.3 percent, or 6.61 points, to close at 2,218.24.

The Shenzhen Component Index slid 0.31 percent, or 27.86 points, to finish at 9,054.08.

Combined turnover rose to 100.16 billion yuan (15.82 billion U.S. dollars) from 97.8 billion yuan the previous trading day.

Losers outnumbered gainers by 551 to 354 in Shanghai, and gainers outnumbered losers by 695 to 633 in Shenzhen.

Following the news of Kim's death, the benchmark Korea Composite Stock Price Index (KOSPI) plunged 3.43 percent to close at 1,776.93 on Monday, while the 225-issue Nikkei Stock Average dipped 1.26 percent to 8,296.12.

Shares of Chinese brokers erased gains made in morning trading to end lower on Monday. China Merchants Securities lost 2.9 percent to close at 10.39 yuan per share, while Industrial Securities fell 2.37 percent to 8.65 yuan.

The non-ferrous metals sector also fell, with Anhui Xinke New Materials tumbling by the 10-percent daily limit to close at 7.59 yuan. Aluminum Corporation of China, the country's top aluminum producer, was down 3.36 percent to 6.61 yuan.

Bucking the trend, the aviation and military manufacturing sectors rose.Beijing BDStar Navigation and China North Optical-Electrical Technology rose by the 10-percent daily limit to 26.40 yuan and 8.21 yuan.

Shares of real estate developers surged after official data showed that more Chinese cities saw monthly home price declines in November amid government tightening efforts.

The National Bureau of Statistics said on Sunday that 49 cities out of a statistical pool of 70 major cities saw month-on-month drops in new home prices in November, compared with 34 cities in October.

Poly Real Estate Group Co., the country's second-largest developer, increased 0.9 percent to hit 10.07 yuan, and its rival Gemdale Corp. gained 1.89 percent to reach 4.86 yuan.

 

 

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