Stocks rise as PBOC ensures liquidity
Print Edition
SHANGHAI stocks closed up yesterday as sentiment and liquidity improved. The Shanghai Composite Index rose 0.11 percent to close at 2,991.33 points.
Shares of catering companies, building materials firms and media enterprises were among the biggest gainers.
The People’s Bank of China said it would ensure ample liquidity through targeted reserve requirement ratio cuts at the appropriate time.
The central bank’s support for the economy includes reducing interest rates and flushing the market with liquidity.
It has also said it will provide special funds for banks to lend to businesses. The government also said it will keep the macro leverage ratio and prices stable.
Xiao Yuanqi, chief risk officer of the China Banking and Insurance Regulatory Commission, said banking institutions had lent 953.5 billion yuan (US$135.9 billion) to counter the COVID-19 as of Wednesday.
Fu Jian Anjoy Foods Co Ltd jumped 9.24 percent to 78.50 yuan and Hundsun Technologies Inc added 6.22 percent to 100.91 yuan.
China Resources Microelectronics Ltd, the first red-chip firm to list on the SSE STAR market, surged 228.2 percent on its debut yesterday.
Red-chip firms are domestic firms incorporated outside China’s mainland and listed on the Hong Kong Stock Exchange.
The semiconductor firm closed at 42.01 yuan (US$6), with an intraday high of 50 yuan, on its first trading day. By the close, its market value reached 49.2 billion yuan, ranking it No. 6 on the exchange.
Market analysts said the first red-chip firm on the STAR represents the innovation and openness of the market, the first choice for semiconductor firms.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
