Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.

Thank You
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

Submit Post
සිංහල පරිවර්තනය

Display results as :


Rechercher Advanced Search

Latest topics

by anges Today at 1:32 am

» MACD A Powerful Tool to Predict Market Trends
by wiser Yesterday at 10:09 pm

by Yazaar92 Yesterday at 9:09 am

» Wiser's TA Chart Room
by Yazaar92 Fri Mar 16, 2018 6:29 pm

» HVA March reports
by Yazaar92 Fri Mar 16, 2018 3:32 pm

» Earn 1.5% daily interest.. guaranteed..
by Uaecoindubai Fri Mar 16, 2018 5:19 am

» Market Sell Off
by kovida Thu Mar 15, 2018 11:39 pm

» At least 30 % return within 30 days
by Theekshana Thu Mar 15, 2018 9:28 pm

» Stocks we can buy at current situation
by Harry82 Thu Mar 15, 2018 5:55 am

» Sri Lanka Equity Research
by Mohamed Siraj Thu Mar 15, 2018 12:13 am

» A Humble Request to Fill Up an Online Survey for Research Purpose
by Mohamed Siraj Thu Mar 15, 2018 12:06 am

» CDB is Silent killer in Banks.
by Harry82 Wed Mar 14, 2018 7:55 pm

» CDB - Jounery Begun..
by ranferdi Wed Mar 14, 2018 1:07 pm

» What is the situation of Adam Group
by ranferdi Tue Mar 13, 2018 2:58 pm

by sharemarket Tue Mar 13, 2018 1:43 pm

» Egg Supply of sri lanka. (NEWS)
by suku502 Tue Mar 13, 2018 1:38 pm

» REEF getting GREEN
by Ran49 Mon Mar 12, 2018 9:45 pm

» COCR can be attractive
by suku502 Mon Mar 12, 2018 8:53 am

» HSIG 10 Rs dividend at 73
by TuTanKaman Mon Mar 12, 2018 7:38 am

» VONE , is it time to sell or holds
by sameboy Sun Mar 11, 2018 8:19 pm

Forum Disclaimer

The information contained in this forum have been submitted by third parties directly without any verification by us. The information available in this forum is not researched or purported to be complete description of the subject matter referred to herein. We do not under any circumstances whatsoever guarantee the accuracy and completeness information contained herein. its blogs, forums, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not in any way be responsible or liable for loss or damage which any person or party may sustain or incur by relying on the contents of this report and acting directly or indirectly in any manner whatsoever.

Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility, its blogs, forums, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. The information on this website is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.

You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market News » China Stocks Fall to One-Week Low on Slumping Industrial Profits

China Stocks Fall to One-Week Low on Slumping Industrial Profits

Go down  Message [Page 1 of 1]

Melissa Pereira

Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
China’s benchmark stock index fell for a second day after a report showing industrial companies’ profits dropped the most in at least four years added to concern the economic slowdown is deepening.
The Shanghai Composite Index slipped 0.2 percent to 3,087.23 at 1:04 p.m., heading for the lowest close since Sept. 17. Industrial companies’ profits plunged 8.8 percent in August, compared with a 2.9 percent drop in July. PetroChina Co. and China Shipbuilding Industry Co. retreated at least 1.1 percent to lead declines for energy and industrial shares.
“The industrial profit figure was well below the market consensus figure and is likely to add some downward pressure to today’s session,” said Gerry Alfonso, a sales trader at Shenwan Hongyuan Group Co. in Shanghai. “There is little activity on the market with a long holiday coming later this week.”
Trading volumes in Shanghai plunged 52 percent below the 30-day average before a week-long holiday that starts on Oct. 1, while Hong Kong’s market was shut Monday for the mid-Autumn festival.
The Shanghai gauge has fallen 3.5 percent this month through Friday, extending declines this quarter to 28 percent for the worst three-month period since March 2008. China’s stocks have tumbled as leveraged investors fled the stock market amid concerns valuations weren’t justified amid a weakening economy.

Economic Weakness

Industrial companies’ profits dropped 8.8 percent to 448.1 billion yuan last month from a year earlier, the National Bureau of Statistics said on its website. That’s the steepest loss since at least October 2011, when the government began releasing monthly data. Profits in coal mining plunged 64.9 percent, while oil and gas profits tumbled 67.3 percent, according to the report.
Coupled with overcapacity and deflation, slumping profits are the latest sign China’s 2015 growth target of 7 percent is at risk. Preliminary data this month showed a factory gauge falling to the lowest level since the depths of the global financial crisis, while economists surveyed by Bloomberg expect the government will further cut its growth forecast next year.
The CSI 300 Index was little changed, as losses for energy, industrial and financial shares overshadowed a rally for technology companies. China Railway Group Ltd. slumped 1.7 percent. China Everbright Bank Co. fell 3.6 percent after it said it will raise HK$19.6 billion ($2.5 billion) to replenish core capital by selling new Hong Kong-listed shares to its parent.
Leshi Internet Information & Technology Corp., the biggest mainland-listed Internet video provider, gained 8.4 percent.
Shanghai’s margin debt fell to a nine-month low on Friday, dropping 1.5 percent to 579.2 billion yuan for a third day of losses.
Courtesy: Bloomberg Business 28 September 2015

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum