More gloom for industry stocks
Updated: 2012-05-02 11:18
(China Daily)
|
|||||||||||
Chinese industrial stocks, such as Aluminum Corp of China Ltd listed at New York stock exchange, will extend declines until policymakers cut interest rates to stimulate construction and lending, according to Pension Partners LLC. The company, known as Chalco, slumped 4.8 percent to $12.03, the most since March 6, bringing its slide in April to 1.3 percent.
Investors are reluctant to buy industrial stocks until the government cuts interest rates, said Michael Gayed, chief investment strategist in New York at Pension Partners LLC. An interest rate cut would benefit industrial companies such as Chalco, helping stabilize the country's housing market, Gayed said.
China Daily - Agencies
Related Stories
Industrial earnings bounce back in March 2012-04-28 09:52
China-Russia cooperation in energy industry set to expand 2012-04-28 08:03
Major Chinese industrial companies' profits drop 1.3% 2012-04-27 10:50
Official eyes domestic demand to weather industrial slowdown 2012-04-25 16:50
Domestic industry sees marketable opportunities 2012-04-24 09:41
Today's Top News
President Xi confident in recovery from quake
H7N9 update: 104 cases, 21 deaths
Telecom workers restore links
Coal mine blast kills 18 in Jilin
Intl scholarship puts China on the map
More bird flu patients discharged
Gold loses sheen, but still a safe bet
US 'turns blind eye to human rights'
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
All-out efforts to save lives |
Liaoning: China's oceangoing giant |
Poultry industry under pressure |
'Spring' in the air for NGOs? |
Boy set to drive Chinese golf |
Latest technology gets people talking |