China Stocks: China Vanke, China Southern Airlines, Poly Real
The Shanghai Composite Index (SHCOMP), which tracks the bigger of China’s stock exchanges, slid 1.1 percent to 2,360.66 at the close. It fell 0.8 percent this week, declining for a fourth straight week. The CSI 300 Index lost 1 percent to 2,557.31 today.
Airlines: China Southern Airlines Co. (600029) (600029 CH) dropped 3.2 percent to 5.52 yuan. Rival China Eastern Airlines Corp. (600115) (600115 CH) retreated 2.3 percent to 4.25 yuan. China raised wholesale jet fuel prices by 376 yuan a ton to 7,653 yuan ($1,203) a ton in December, the China Securities Journal reported, without saying where it got the information.
Property: Shanghai Lujiazui Finance & Trade Zone Development Co. (600663) (600663 CH) retreated 1.4 percent to 12.30 yuan. Poly Real Estate Group (SHPROP) Ltd. (600048 CH) declined 0.4 percent to 9.69 yuan and China Vanke Co. (000002) (000002 CH), the nation’s biggest listed property developer, lost 0.1 percent to 7.38 yuan.
China’s home prices fell for a third month in November as developers started to cut prices to boost sales amid the government’s housing curbs, according to SouFun Holdings Ltd. Home prices dropped 0.28 percent last month from October, when they retreated 0.23 percent, SouFun, the nation’s biggest real- estate website owner, said yesterday.
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