Newcomer battered by weakness of trading

PUBLISHED : Thursday, 24 March, 1994, 12:00am
UPDATED : Thursday, 24 March, 1994, 12:00am

THE ailing Shenzhen stock market yesterday knocked off 7.3 per cent from the exchange's B-share newcomer, China International Marine Container.

A featureless day saw the Credit Lyonnais Shenzhen B index fall 12.78 points, or 1.05 per cent, to close at 1,200.41.

Turnover would be thin, if it were not been for the $3 million worth of shares of the container firm. Total B-share turnover was $6.1 million.

Household appliance maker Tsann Kuen was the day's biggest loser, dropping 20 cents, or 3.8 per cent, to finish at $5.10.

Clear float-glass manufacturer China Southern Glass shed 2.4 per cent to close at $12.20.

China Bicycle was down 10 cents, or 1.6 per cent, to $6.20 on a turnover of $1.9 million.

The A-share market also lost ground, with the Credit Lyonnais Shenzhen A index falling 44.96 points, or 2.95 per cent, to 1,481.03 on a turnover of $262.3 million.