Index slips on weak turnover

A 6.8 PER cent drop in the share prices of Shenzhen Properties led the Shenzhen B index to edge slightly lower on thin turnover yesterday.

The Credit Lyonnais Shenzhen B index closed at 1,221.12, a drop of 5.44 points, or 0.44 per cent. Turnover was $4 million.

Shenzhen Properties fell 45 cents to close at $6.20. The counter had been virtually ignored since the start of the month.

Another property developer, Shenzhen Gintian, continued to slip, losing 2.6 per cent, to $7.40.

Shenzhen Special Economic Zone Real Estate, the municipal government-backed property developer, was the most actively traded stock, with $2.7 million worth of shares traded.

The counter shed five cents, or 1.4 per cent, to close at $3.70.