www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

   

Stocks fall as Ping An makes debut

By Dong Zhixin (chinadaily.com.cn)
Updated: 2007-03-01 15:18


Dr. Peter Ma, chairman and chief executive officer of Ping An Insurance (Group) Co., gestures as he speaks at the insurer's IPO ceremony in the Shanghai Stock Exchange Thursday March 1, 2007. [newsphoto]

Chinese stocks plummeted Thursday in spite of the premier's pledges to develop the capital market as Ping An Insurance (Group) Co. made China's second biggest domestic IPO.

The benchmark Shanghai Composite Index fell 83.88 points, or 2.91 per cent to 2,797.19. The Shenzhen Composite Index lost 16.91 points, or 2.30 per cent, to 719.90. The Shanghai and Shenzhen 300 index was down 71.21 points, or 2.80 per cent, to 2,473.36.

Special coverage:
Stock Market

Related readings:  
 Wen calls for more financial reform
 Stocks recovered from record plunge

Stocks see biggest fall in 10 years

Stocks nosedive after record high closeStocks end well off highs after new record
A HK-Shanghai market merger?
Stock index up 2.3 pct as banks recover
Boom and bust on the road to prosperity
Value of China's listed stocks shrinks by 7% in past week
Listed stocks shrink 7% in past week
Lawmaker sees stock market bubble

The fall came as Premier Wen Jiabao vowed to vigorously push forward the development of the capital and insurance markets in an article published Thursday by the Party journal Qiushi (Seeking Truth).

Ping An Insurance, China's No. 2 life insurer, opened at 50 yuan, a rise of 47.93% over the offer price of 33.80 and closed at 46.79, making it the most expensive financial share in the country's A-share market.

The insurer, 19.9 percent-owned by HSBC, raised 38.87 billion yuan in the world's biggest ever insurance IPO and China's second biggest A-share offering. The country's domestic IPO record was set by the Industrial & Commercial Bank of China last October, which raised $6 billion.

However, the Ping An listing did not help other financial shares recover the lost ground. China Life shed 5.21 per cent to 34 yuan. The Industrial and Commercial Bank of China, the nation's biggest lender, sank 3.06 per cent to 4.75 yuan while the Citic Securities Co., the nation's biggest publicly traded brokerage, slipped 5.63 per cent to 35.02 yuan.

Chinese stocks, which more than doubled last year, became highly volatile after the Spring Festival. The Shanghai Composite Index hit an all-time high of 3,040 in the first post-festival session before plunging 9 per cent, the sharpest fall in a decade, in the following session. Then the index recovered nearly half of the loss Wednesday, thanks to news about Wen's article.

Ping An is the second insurance shares in the A-share market after China Life, the country's top insurer, which made its Shanghai debut on January 9.

Thirty-per cent of Ping An's 1.15 billion-share offer was sold to strategic investors with a lock-up period of 12 months, with another 230 million shares going to ordinary institutional investors with a lock-up period of three months, while the remaining 575 million shares were offered to retail investors.

Ping An's Hong Kong shares have more than doubled in value in the past 52 weeks as investors eye the insurance sector's booming growth as Beijing dismantles a cradle-to-grave welfare system.

Headquartered in Shenzhen, Guangdong Province, Ping An is a diversified financial holding group founded in 1988. It offers integrated securities, trust and banking services with insurance as its core business.



Top China News  
Today's Top News  
Most Commented/Read Stories in 48 Hours
主站蜘蛛池模板: 好吊妞国产欧美日韩视频 | 澳门一级特黄真人毛片 | 美女张开腿黄网站免费国产 | 91刘亦菲精品福利在线 | 精品国产一区二区三区免费看 | 亚洲国产天堂久久精品网 | 国产深夜福利视频观看 | 一级片爱爱 | 国产va免费精品高清在线观看 | japanesevideo国产在线 | 亚洲精品一区二区 | 三级毛片网| 美女张开双腿让男人桶视频免费 | 黄www| 亚洲网站www | 精品一区二区久久 | 无码精品一区二区三区免费视频 | 一区二区三区影院 | 国产精品麻豆一区二区三区v视界 | 欧美三级视频在线观看 | 国产日韩欧美在线一二三四 | 日韩欧美在线视频一区二区 | 精品久久久久久中文字幕 | 中文字幕欧美在线观看 | 毛片基地看看成人免费 | 中文字幕在线视频在线看 | 久久www免费人成_看片高清 | 国产成人黄网在线免 | 青青久草 | 亚洲国产片在线观看 | 91成人软件 | 大陆孕妇孕交视频自拍 | 午夜精品网 | 国产日韩不卡免费精品视频 | 成人免费福利片在线观看 | 亚洲综合色吧 | 免费国产a国产片高清不卡 免费国产不卡午夜福在线 免费国产不卡午夜福在线观看 | 亚洲午夜精品一级在线播放放 | 99久久亚洲综合精品网站 | 亚洲欧美日韩中文字幕在线一 | 国产区一区 |