今日时报:SHANGHAI BEARS BRUNT OF INFLATION FEARS通胀担忧继续拖低上海股市
金融时报：“日本未来可能被迫向中印贱卖资产”
Chinese stocks were again under pressure yesterday as investors remained unsettled by concerns about inflation and supplies of new equity.
The Shanghai composite index dropped 2.2 per cent to 2,957.32, taking its decline over the past three days to 11 per cent. The slide was triggered by a 100 basis point increase in the bank reserve ratio requirement. The benchmark stock index has now fallen 52 per cent from a record high struck last October.
News that the annual rate of consumer price inflation had fallen to 7.7 per cent went largely unheeded by the market, as the figures had been leaked. There were worries that consumer inflation would accelerate due to rising factory gate prices.
Meanwhile, there were worries that the forthcoming $6bn initial public offering by China State Construction Engineering could divert funds from the market.
Indeed, there were rumours that the IPO could be delayed because of poor market conditions.
PetroChina, the country's biggest company, fell by 3.3 per cent to Rmb15.37 and its rival oil company, Sinopec, lost 3.4 per cent to Rmb11.52.
Shanghai's slump dragged down Hong Kong in its wake.
The Hang Seng index closed 1.3 per cent lower at 23,023.86 and the main sub-index of mainland companies listed in the territory was 1.4 per cent lower at 12,522.89.
The list of worst-performing stocks was dominated by mainland companies. China Mobile fell by 1.4 per cent to HK$107.40, China Life Insurance lost 2.4 per cent to HK$28.40 and China Construction Bank was down 0.5 per cent to HK$6.53.
The debut of A8 Digital Music, a provider of mobile phone ringtones and other music, created one bright spot. The shares closed 35.3 per cent above their offer price, near to the day's highs, at HK$2.58.
中国股市昨日再度承受压力，因投资者仍对通胀和新股上市问题感到不安。
上证综指昨日下跌2.2%，收于2957.32点，令过去三日累计跌幅达到11%。中国将商业银行存款准备金率调高100个基点，引发了此次股市的下跌。如今，这一基准股指较去年10月的创纪录高位下跌52%。
市场基本没有理会中国5月份消费者价格指数(CPI)同比涨幅回落至7.7%的消息，因为该数据已提前泄露出来。市场担心，由于工业品出厂价格攀升，消费者价格将加速上涨。
与此同时，市场还担心，中国建筑股份有限公司(China Construction Engineering Corp)即将进行的60亿美元首次公开发行(IPO)，可能会将部分资金从市场上转移出去。
实际上，有传言称，由于市场状况不佳，该公司的IPO可能会推迟。
中国最大企业中国石油(PetroChina)下跌3.3%，至15.37元人民币；其竞争对手中国石化(Sinopec)下跌3.4%，至11.52元人民币。
上海股市下跌拖累香港股市随之走低。
恒生指数昨日收于23023.86点，跌幅1.3%；恒生中国企业指数下跌1.4%，至12522.89点。
香港股市表现最差的股票主要是内地企业。中国移动(China Mobile)下跌1.4%，至107.40港元；中国人寿(China Life Insurance)跌2.4%，至28.40港元；中国建设银行(China Construction Bank)跌0.5%，至6.53港元。
手机铃声及其它音乐供应商A8电媒(A8 Digital Music)的首日上市给市场带来一个亮点。该股昨日收于2.58港元，接近盘中高点，较发行价上涨35.3%。
By Andrew Wood in Hong Kong
Friday, June 13, 2008
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