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Article: China : Chinese market closes flat.
- Article from:
- TendersInfo
- Article date:
- September 27, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: sander03
The Chinese market closed flat on Friday, ahead of a week-long holiday and on uncertainty surrounding the U.S. financial sector bailout. The China markets will remain shut next week for the National Day holiday. The benchmark Shanghai Composite Index closed down 3.72 points or 0.16% at 2,293.48.
The key index fell 4.32% in September, but is up about 27% from the 22-month closing low hit on September 18 on the back of removal of stamp duty on share purchases, sovereign wealth fund plans to purchase domestic bank shares, and encouragement for companies to buy back shares.
Ping An Insurance fell on worries about possible losses ...