Textile Index Components Broadly Lower from Last Week
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Malaya [2011-05-20]
China's Keqiao Textile Index saw four of its five key components erode from last week, while the main gauge still rose. Grey fabric prices led the decline, shedding -0.78 points from last week to 101.05, its biggest drop in fourteen weeks. The raw material index followed, down -0.67 points on the week to 90.93, its lowest reading in thirteen weeks and the lowest sub-index this week. The accessories component eased -0.31 points during the week to 101.43, but still remains the strongest sub-index this week. Apparel fabric reversed most of last week??s rebound, giving up -0.21 points to 98.24. Home textiles, the only component showing a gain from last week, rose 0.33 points to a record high 98.1. The main gauge of the Textile Index also gained, rising a modest 0.17 points on the week to 96.51, its strongest showing in seven weeks.