B shares dip as punters stay home

SHENZHEN B index stocks again failed to draw investors, with just six company shares traded.

The Credit Lyonnais Shenzhen B index slipped 11.22 points, or 0.99 per cent, to 1,127.33 with four stocks down and two unchanged, according to Bloomberg.

''There is just not a lot of interest out there,'' said a broker.

China Bicycles and household appliance stock Tsann Kuen accounted for 88 per cent of trading.

''Funds have been actively buying Tsann Kuen this week,'' said the broker.

The Taiwan-backed stock edged down five HK cents, or 1.1 per cent, to $4.70.

China Bicycle was down 10 cents, or 1.6 per cent, to $6.10.

Shenzhen Special Economic Zone Real Estate fell another 9.7 per cent to $2.80.

Shenzhen Gintian was down 3.2 per cent at $6.

On Sunday, the company's minority shareholders demanded a change in the payout proposal, resulting in a drop in the company's forecast earnings per share to about 0.8 yuan from an originally forecast 0.9 yuan.

The Credit Lyonnais Shenzhen A index also fell. It was down 27 points, or 2.14 per cent, to 1,236.19 yesterday.