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A-Shares Plummet 5%, Pudong Development Bank Drops 10%
0857.HK, 600000.SH, 601857.SH, PTR, PetroChina, Shanghai Pudong Development Bank, macro
Posted by: Li Jun on Mar 24, 2008 | 17:03
Editorial Summary
The Shanghai Composite Index plunged 4.49 percent to close at 3,626.2 on Monday, while the Shenzhen Composite Index dropped 3.24 percent to close at 1,135.2. Trading volume on the Shanghai and Shenzhen Stock Exchanges was RMB88.5 billion and RMB41.1 billion, respectively.
Shares of Shanghai Pudong Development Bank (600000.SH) tumbled the daily limit of 10 percent to close at RMB30.85 on Monday. Shareholders of the bank approved its plan on March 19 to raise up to RMB20 billion through a sale of new shares within the year, according to Moneyweek.
China's largest oil and gas producer PetroChina's (601857.SH, 0857.HK, NYSE: PTR) dragged down the market by declining 5.71 percent to close at a historical low of RMB19.83 in Shanghai.
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