Keqiao Textile Index Eases in Latest Week
Source: Globecotnews Date: 2008-10-24
After last week's autumn holiday, the main gauge of China's Keqiao Textile Index drifted lower, as three of five components declined from the prior period. The main index settled down -0.27 points to 96.98, matching a near-term low set in early September. The raw material sub-index saw the largest decline from before the holiday and fell to a record low, down -1.33 points to 89.49, its first breach of 90. After reaching a record high in early September, grey fabrics fell for the fourth time in five weeks this week, down -0.31 points to 102.26. Home textiles rounded out the weekly decline by falling six of the last seven weeks. The sub-index shed -0.12 points to 97.49, its lowest point since early July. Gains in the apparel fabrics and accessories components partially offset these declines. The apparel fabric sub-index rose 0.71 points to 100.29, but remains little changed over the last two months. Accessories saw the biggest jump in a year, rising 1.75 points to 103.37, its highest point in five months.
