April 29 (Bloomberg) - increased China, largest shrinkage stocks weekly loss of benchmark since November, as a manufacture of showing simplified extended report concerns measures tightening of policy of the nation have slowed the economy.
Anhui conch Cement Co., China cement producer, rose to 2.1% as the gauge factory suspended above the threshold of the expansion. China Southern Airlines Co. has won more than two weeks as a yuan establish can reduce its debt the dollar-based. Datang International Power Generation Co. has led to a rally for producers of electricity on speculation, the Government may allow them to raise prices. Industrial Bank Co. dragged 3.3% after East Securities Co., said the banks of the net interest margin growth will slow. "" The economy is still strong and I do not see a slowdown in the growth big after all these measures, tightening "said Wang Weijun, a strategist at Zheshang Securities Co. in Shanghai. Shanghai. "The broader market is now very close to his background of assessment so a larger decline is not likely."Of Shanghai Composite index, which follows the largest stock market in China, rose 24.47 or 0.9%, to 2,911.51 at the 3 p.m. to close. He fell to 3.3% this week, the most since five days ended November 12 and lost 0.6% this month. CSI 300 index won 1% 3,192.72. China's markets will be closed on May 2 for a holiday.Shanghai's Composite Index fell 4.8% to a maximum of five months on 18 April in concern that the Government will add to 10 lenders reserve requirements increase and four higher rates of interest to cool inflation. A pared down advance gauge stocks this year at 3.7%.Manufacturing GrowthChina manufacturing suffered its expansion this month even though the Government has raised interest rates and allow that the yuan strengthen at a pace more fast, index of managers purchase showed.The index was 51.8 in April, unchanged since March, said today HSBC Holdings Plc. and Markit Economics. A reading above 50 indicates expansion. The Federation of China logistics and purchase should report, on 1 may, PMI index increased to a maximum of one year of 53.9 in April, according to the median of forecasts in a survey of 20 economists Bloomberg. The measure is an indicator for the economy.Anhui conch, large manufacturer of cement in China, gained 2.1% to 37.78 yuan, stimulation of an advance for industrial enterprises. SAIC Motor Corp., the world's largest automaker, has added 2.7 per cent to 18.22 yuan. Wuhan Iron & Steel Co. rose by 2.7 per cent to 4.62 yuan.A gauge of public service in the CSI 300 companies soared 4.1%, the most among the 10 industry groups. Datang Power, a unit of the largest second electricity producer of China, reached 9.5% 7.01 yuan. Huaneng Power International Inc., the listed unit of the largest group of Chinese advanced power 6.3% to 6.09 yuan.Shortages of power "If the shortage will last more than a year, China may have to approve more projects of coal-fired power plants, but before it, they need to increase the rates more so that independent power producers are willing to spend for additional capital investments" Dave Daisecurities capital markets analyst, said in e-response to questions by mail. "It will still depend on where inflation is going in the coming months."China Southern, the largest carrier by fleet size, reached 4.2% 8.69 yuan. China Eastern Airlines Corp., the second most high, added 2.4% to 6.32 yuan. Air China Ltd., the largest international carrier, gained 1.4 per cent at 11,10 yuan.The yuan appreciated as much as 0.2% to 6.4898 per dollar in Shanghai today, the strongest level since the unified country of the official exchange rate and the market in late 1993, according to the system of exchange of China changes. The Chinese currency has strengthened on speculation that the Central Bank will allow recognition awards to slow consumption, which rose at the fastest pace since 2008 last month.An appreciation of the yuan Yuan GainsEvery 1% will be added 600 million Yuan ($92 million) to pay China Air, according to Rao Xinyu, head of investor relations, while southern China, said March 29 each 1 percent gain in the yuan will boost profit by 400 million yuan.Financial corporations in the CSI 300 gauge slipped 0.5%, the sole decliner among the 10 industry groups. Industrial Bank, owned in part by a unit of HSBC Holdings Plc, have slipped 3.3% to 29,20 yuan, the most since February 22 and trim its gain of 21 percent this year. Bank Huaxia, owned in part by Deutsche Bank AG, collapsed 5.3% to yuan 12.52.Marge of net interest for Industrial Bank past 23 basis points to 2.11% in the first quarter of the previous three months while that for the Huaxia Bank fell to 3 points based 2.47%Mao Junhua and Luo Jing, analysts at China International Capital Corp., wrote in a report today. A basis point is the point of percentage 0. 01. interest margins "net interest margin growth may slow in the second quarter increased by the cost of deposits would undermine returns on loans to the", Jin Lin, a banking analyst at securities from the East to Shanghaisaid by telephone. "Banks are under pressure to attract deposits to meet daily loan-to-deposit ratios."Chinese banks require Records interest rates to lend to one another for six months or more, anticipating the decision makers will raise borrowing costs, and order of the additional funds set aside as reserves to curb inflation.The interbank rate offered to Shanghai or Shibor, yuan loans six months passed 111 basis points this year to 4.67% yesterday, the level the highest since the daily fixing was presented in October 2006.-Zhang Shidong. With the help of Jiang Jianguo and Winnie Zhu in Shanghai. Publisher: Allen Wan
To communicate with the staff of Bloomberg News for this story: Zhang Shidong in Shanghai at the szhang5@bloomberg.net
To contact the editor responsible for this story: Darren Boey to the dboey@bloomberg.net
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