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Shanghai index gains little in morning
By Lydia Chen |
August 24, 2011, Wednesday
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Online Edition
Online Edition
SHANGHAI stock market edged up in the morning session today with second-tier blue chips being active while heavyweights staying weak.
The Shanghai Composite Index added 0.17 percent to 2,558.32.
Technology, coal and military-related plays are among the top gainers this morning while financials, developers and non-ferrous producers stayed weak.
Aisino Co paced the gains among all shares with a jump of 8.66 percent to 31.48 yuan (US$4.90). Fushun Special Steel Co added 3.51 percent to 7.66 yuan. HeiLongJiang Heihua Co climbed 3.25 percent to 11.77 yuan.
China Shenhua, the country's biggest coal producer, added 0.94 percent to 25.85 yuan. Yanzhou Coal Mining Co edged up 0.13 percent to 30.31 yuan. Crude for October delivery advanced as much as 41 cents to US$85.85 a barrel in electronic trading on the New York Mercantile Exchange. The contract yesterday rose US$1.32, or 1.6 percent, to US$85.44.
Meanwhile, Industrial Bank Co, partly owned by HSBC Holdings Plc, outperformed its industry counterparts after the bank said its first-half profit surged 40 percent.
But China Life dropped on worse-than-expected earning report. The insurance giant lost 2.78 percent to 15.72 yuan. First-half profit fell 28 percent from a year earlier to 12.96 billion yuan as declines in the domestic stock market hurt investment returns.
The Shanghai Composite Index added 0.17 percent to 2,558.32.
Technology, coal and military-related plays are among the top gainers this morning while financials, developers and non-ferrous producers stayed weak.
Aisino Co paced the gains among all shares with a jump of 8.66 percent to 31.48 yuan (US$4.90). Fushun Special Steel Co added 3.51 percent to 7.66 yuan. HeiLongJiang Heihua Co climbed 3.25 percent to 11.77 yuan.
China Shenhua, the country's biggest coal producer, added 0.94 percent to 25.85 yuan. Yanzhou Coal Mining Co edged up 0.13 percent to 30.31 yuan. Crude for October delivery advanced as much as 41 cents to US$85.85 a barrel in electronic trading on the New York Mercantile Exchange. The contract yesterday rose US$1.32, or 1.6 percent, to US$85.44.
Meanwhile, Industrial Bank Co, partly owned by HSBC Holdings Plc, outperformed its industry counterparts after the bank said its first-half profit surged 40 percent.
But China Life dropped on worse-than-expected earning report. The insurance giant lost 2.78 percent to 15.72 yuan. First-half profit fell 28 percent from a year earlier to 12.96 billion yuan as declines in the domestic stock market hurt investment returns.
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