China’s Stocks Fall Most in Three Months on Wen’s Speech


14/03/2012 21:44 AST  Bloomberg

China’s stocks fell, dragging the benchmark index down the most in more than three months, after Premier Wen Jiabao said home prices are still far from reasonable levels.

The Shanghai Composite Index (SHCOMP) slumped 2.6 percent at the close, reversing an earlier 0.8 percent gain. A relaxation of curbs on the property market would lead to “chaos,” Wen said at a press conference in Beijing today. A gauge tracking property stocks sank 3.7 percent, led by Poly Real Estate Group Co., while Anhui Conch Cement Co. paced losses by building- material companies.

For more on this Click Here

Global News
2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | News Archive
Most Viewed Companies
Ticker Price Volume
SAGRINSURANCE 32.21 594,047
RIBL 17.99 151,302,340
BAHRI 53.49 3,787,214
ALKHODARI 31.12 893,308
SABIC 105.12 4,624,790
ALMARAI 90.5 257,061
SPIMACO 48.52 619,575
Recent News

Dubai index seen hitting 4,500 level soon
Dubai index, which gained more than 10 per cent since the start of the year, may extend gains to hit 4,500 levels in the next few weeks even as market participants brace for relisting of Amlak Financ

Brent crude oil slips below $66 before long US weekend
Oil prices fell on Friday as worries over the impact of war in the Middle East on crude supplies were outweighed by reports of profit-taking ahead of a long weekend.

Monday, May 25 is Memo

Saudi Arabia rewrites oil game with refining might
Saudi Arabia's rapid transition into one of the world's largest oil refiners has added an extra dimension to the oil exporter's role as the driver of Opec (Organization of the Petroleum Exporting Cou

Orpic borrows $910m from local, Gulf banks
State-owned Oman Oil Refineries and Petroleum Industries Co (Orpic) has taken out a RO350 million ($910 million), ten-year loan from local and regional banks, part of which will be used to fund expan

US drivers yield 'swing' oil demand crown to Saudis
As the United States raced over the past five years toward becoming a global petroleum powerhouse, the world's biggest oil exporter Saudi Arabia quietly seized a market milestone from America: the la

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Which of the following do you think is the best long-term investment?