Monday May 12, 08:48 AM
China B-shares close lower led property stocks
BEIJING (XFN-ASIA) - China B-shares closed lower dragged down by properties, with sentiment likely dented after a strong earthquake hit southwestern China about half an hour before the close of trading, dealers said.
There were no
reports of major damage at the time the market closed, particularly out of Sichuan, where the epicenter was located. Various agencies estimated the quake at between 7.5 and 7.8.
Shanghai Lujiazui Finance & Trade Zone Development (SHB (Xetra: A0F5WN - news) 900932; SHA 600663) and China Vanke (SZB 200002; SZA 000002) led the declines.
The Shanghai B-share Index closed down 0.18 points or 0.07 pct at 257.83 while the Shenzhen B-share Index fell 1.90 points or 0.34 pct at 560.06.
The FTSE/Xinhua China B 35 Index was down 41.48 points at 9,122.95.
The benchmark Shanghai Composite Index, which covers both A- and B-shares listed on the Shanghai Stock Exchange, closed up 13.49 points or 0.37 pct at 3,626.98.
(1 usd = 7.0 yuan)
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