Chinese Stocks Fall Again - CapitalVue

September 13 -- The Shanghai Composite Index dropped 1.06 percent or 26.45 points to close at 2,471.30 points today on transaction value of 51.85 billion yuan.

The Shenzhen Component Index was down 1.08 percent or 117.09 points to close at 10,775.30 points today on transaction value of 42.52 billion yuan.

According to the General Administration of Customs, the trade surplus fell from $31.48 billion in July to $17.75 billion in August.

New yuan-denominated lending in August totaled 548.5 billion yuan, an increase of 9.3 billion yuan year-on-year, according to The People’s Bank of China.

Cement makers were bullish on news that prices in south China rose last week and output in August had increased 12.8 percent year-on-year to 182.34 million tons. Guangdong Tapai Group (002233, 12.69, +7.725%), Jiangxi Wanianqing Cement (000789, 14.88, +5.832%) and Fujian Cement (600802, 10.61, +4.224%) led the gainers from this sector.

Financials posted mixed performances. Shaanxi International Trust (000563, 14.1, +5.145%) Founder Securities (601901, +0.23, 3.555%) and Sealand Securities (000750, 15.02, +3.018%) outperformed, while Southwest Securities (600369, 10.95, -2.319%), Anxin Trust and Investment (600816, 21.21, -2.030%) and Bank of Ningbo (002142, 0.19, -1.939%) traded lower.

Most of the real estate developers fell, with the exception of some of the bigger developers such as Poly Real Estate (600048, 10.72, +1.323%), China Merchants Property (000024, 18.73, +0.970%) and Sunning Universal (000718, 8.2, +1.611%).

The transaction value of residential properties nationwide rose 24 percent year-on-year during the first half of 2011, and the top 20 firms recorded transaction value of 681.13 billion yuan, up 40.76 percent.

Led by Shanxi CY Pharmaceutical (300254, 18.18, -9.777%), Baotou Dongbao Bio-tech (300239, 25.1, -8.394%) and Guangxi Wuzhou Zhongheng Group (600252, 13.29, -8.091%), almost all the pharmaceutical companies fell today.

BYD (002594, 21.13, -6.26%) fell by more than 6 percent.

Almost all the companies from the oil sector fell today, and PetroChina (601857, 9.73, -0.815%) and Sinopec (600028, 7.1, -0.56%) fell by less than one percent.

Led by Shandong Humon Smelting (002237, 45.34, -6.225%), Jiangsu Asia Pacific Light Alloy Technology (002540, 20.8, -5.455%) and Ningbo Yunsheng (600366, 19.68, -5.294%), almost all the non-ferrous metals producers fell today. 

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