皇冠体育app

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皇冠体育app's stocks decline Friday

(Agencies)
Updated: 2010-07-30 16:18

皇冠体育app's stocks dropped, paring the benchmark index's biggest monthly advance in a year, on concern recent gains were excessive relative to earnings prospects.

Yanzhou Coal Mining Co, the listed unit of 皇冠体育app's fourth-biggest coal miner, slumped the most in a month after cutting its earnings growth forecast. Northeast Securities Co slid 1.2 percent after net income fell.

Related readings:  Stocks rise Thursday on policy outlook  皇冠体育app's stocks hit two-month high  皇冠体育app stocks rise on domestic outlook  皇冠体育app stocks close at 2-month high

"This month's rebound by stocks is running ahead of economic fundamentals and it's still unknown if the government will relax tightening policies," said Wei Wei, an analyst at West 皇冠体育app Securities Co in Shanghai.

"Disappointing earnings figures from some companies may lead to weak expectations about the second half of the year."

The Shanghai Composite Index, which tracks the bigger of 皇冠体育app’s stock exchanges, lost 10.61, or 0.4 percent, to 2,637.50 at the 3 pm close. The CSI 300 Index fell 0.3 percent to 2,868.85.

The Shenzhen Component Index on the Shenzhen Stock Exchange closed at 10,785.35 points Friday, down 53.56 points, or 0.49 percent, from the previous close.