Nearly half of stocks fall 30% in past month

By Dong Zhixin (
Updated: 2007-07-05 10:12

Almost half of the yuan-denominated A-shares in the Shanghai and Shenzhen stock exchanges fell more than 30 percent in the past month, a news report said Thursday.

In a major correction that started on May 30 after China tripled the stamp tax on stock transactions, the key indexes for the two bourses dropped 12 percent and seven percent, respectively.

Most of the stocks fared worse than the market, the Shanghai Security News reported.

Forty-five percent of the total, or 653 stocks dropped more than 30 percent; 901 stocks, or 62 percent, were down more than 20 percent; and 53 declined more than 50 percent.

Bucking the trend, another 167 stocks saw a rise over the closing price on May 29, with 73 of them jumping more than 10 percent. These shares include Shandong Gold, Yunnan Copper and Baotou Aluminum.

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