Iron ore price negotiations - Rio probe pushes Chinese stock markets down
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Saturday, 11 Jul 2009
It is reported that Chinese markets dropped, led by steel makers, after iron ore spot prices rose as much as 5% this week and the Rio Tinto espionage probe widened to involve a Chinese steel mill.
The Shanghai Comprehensive Index lost 0.29% to 3113.93, trimming the weekly gain to 0.83%. The SME Comprehensive Index slid 0.10% to 4567.00. The Hang Seng Index dropped 0.49% to 17708.42, enlarging the weekly loss to 2.72%.
The Hang Seng Growth Enterprises Index rose 0.54% to 573.20, erasing losses in the last five minutes of trading. The Hang Seng China Enterprise Index lost 0.63%t to 10574.42
