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Article: 7-month lowest close leads to tech rebound
- Article from:
- China Daily
- Article date:
- August 20, 2003
CopyrightCopyright 2003 China Daily. Provided by ProQuest LLC. (Hide copyright information)
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China's shares edged up yesterday in a technical rebound a day
after posting their lowest close in more than seven months, with that
steep fall helping ease persistent selling pressure, brokers said.
The benchmark Shanghai composite index, grouping hard-currency B
shares for foreigners and yuan-denominated A shares, climbed 0.32 per
cent, or 4.623 points, to 1,449.712 points.
The index has fallen 5.8 per cent since mid-July, hit by factors
from a rash of stock offers to tightened bank lending.
The Shenzhen sub-index fell 0.29 per cent, or 9.40 points, to
close at 3,246.43 points.
"The market is experiencing a technical rebound, as investors
cautiously buy shares in companies that have ...