Bloomberg (18/12) -- China’s stocks fell for a seventh day, extending the longest losing streak since June, after money-market rates jumped. Industrial companies led declines.
China Avic Avionics Equipment Co. slid 2.5 percent to lead declines for industrial shares. China Shipping Development Co. retreated to a two-week low. Shanghai Fosun Pharmaceutical Co. surged 5.8 percent as health-care companies extended the biggest advance among industry groups over the past month after top-ranked Industrial Securities Co. recommended drug shares.
The Shanghai Composite Index slipped 0.1 percent to 2,148.29 at the close, the lowest level since Nov. 15. Trading volumes were 41
percent below the 30-day average. The seven-day repo rate, a gauge of funding availability in the banking system, rose 149 basis points to 6.27 percent, the biggest increase since June 20.
The Shanghai gauge has fallen 3.3 percent this month, extending this year’s loss to 5.3 percent, amid mixed economic data and concern liquidity will tighten before the resumption of new share offerings next month. A manufacturing index from HSBC Holdings Plc and Markit Economics showed an unexpected decline yesterday. Data today on home prices and foreign direct investment showed gains last month.
sumber : rf-berjangka.com