Chinese shares mixed in morning trade
Chinese share prices were mixed in Friday morning trade, with the Shanghai bourse down as subscriptions for the initial public offering of a major coal producer diverted funds.
By Agencies |
SHANGHAI: Chinese share prices were mixed in Friday morning trade, with the Shanghai bourse down as subscriptions for the initial public offering of a major coal producer diverted funds, dealers said
China Coal Energy, the mainland's second-biggest coal producer, aims to raise up to 25.7 billion yuan (3.6 billion dollars) via the issue of up to 1.525 billion shares in Shanghai.
"Investors remained cautious due to the new shares subscriptions as well as the continuing uncertainty in global markets," said Cao Yan, an analyst at Soochow Securities.
The benchmark Shanghai Composite Index, which covers both A and B shares, ended the morning session down 11.28 points or 0.24 percent to 4,706.45.
The key index had gained nearly 3.5 percent over the last two days after a combined 12 percent drop on Monday and Tuesday, sparked by dives in international markets on fears that the US economy is slipping into recession.
The Shanghai A-share Index lost 11.84 points or 0.24 percent to 4,939.51 points while the Shenzhen A-share Index added 2.14 points or 0.14 percent to 1,505.13.
China Coal Energy, the mainland's second-biggest coal producer, aims to raise up to 25.7 billion yuan (3.6 billion dollars) via the issue of up to 1.525 billion shares in Shanghai.
"Investors remained cautious due to the new shares subscriptions as well as the continuing uncertainty in global markets," said Cao Yan, an analyst at Soochow Securities.
The benchmark Shanghai Composite Index, which covers both A and B shares, ended the morning session down 11.28 points or 0.24 percent to 4,706.45.
The key index had gained nearly 3.5 percent over the last two days after a combined 12 percent drop on Monday and Tuesday, sparked by dives in international markets on fears that the US economy is slipping into recession.
The Shanghai A-share Index lost 11.84 points or 0.24 percent to 4,939.51 points while the Shenzhen A-share Index added 2.14 points or 0.14 percent to 1,505.13.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
