Pacific Epoch - Banks Fall With A-shares, China Mobile Listing Delayed

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Banks Fall With A-shares, China Mobile Listing Delayed

0939.HK, 0992.HK, 1398.HK, 3328.HK, 3968.HK, 600036.SH, 601328.SH, 601398.SH, 601939.SH, 906.HK, 941.HK, Bank of Communication, CCB, CHL, CN, China Construction Bank, China Merchants Bank, China Mobile, China Netcom, ICBC, Industrial and Commercial Bank of China, Lenovo, Macro

Posted by: Cherry Zhang on Apr 14, 2008 | 16:04

Editorial Summary

The Shanghai Composite Index decreased 5.62 percent to close at 3,292.67 on Monday, while the Shenzhen Composite Index fell 6.3 percent to close at 1,009.16. Trading volume on the Shanghai and Shenzhen Stock Exchanges reached RMB 66.95 billion and RMB 32.65 billion, respectively.

The banking industry was down on Monday with shares of Industrial and Commercial Bank of China (ICBC) (601398.SH, 1398.HK), China Construction Bank (CCB) (601939.SH, 0939.HK), Bank of Communication (601328.SH, 3328.HK) and China Merchants Bank (600036.SH, 3968.HK) falling 5.22 percent, 5.72 percent, 6.83 percent and 8.45 percent, respectively.

China Mobile (NYSE: CHL, 941.HK), Lenovo (0992.HK) and China Netcom (NYSE: CN, 906.HK) are unlikely to issue A-shares offerings this year, reports 163.com citing Hong Kong media reports quoting a Shanghai Stock Exchange employee.