Auto makers drive key stock index to advance

By Pan Xiaoyi | April 10, 2009, Friday |

Print Edition

SHANGHAI'S key stock index gained more than 1 percent at the close yesterday, led by car makers after domestic automobile sales rose to a record.

The Shanghai Composite Index rose 1.38 percent, or 32.49 points, to close at 2,379.88. Turnover shrank to 106.66 billion yuan (US$15.69 billion) from 135.64 billion yuan on Wednesday.

"The weak performances of heavyweight blue chips restrained the rebound of the index," said Wu Kongyin, an analyst at United Securities Co. "Transaction volume continued to drop, reflecting a wait-and-see sentiment in the market."

Auto makers led the gainers after China's automobile sales rose to a record of 1.11 million vehicles last month as government policies stimulated demand.

SAIC Motor Co, China's largest car maker, added 1.07 percent to 9.48 yuan. FAW Car Co, a Chinese partner of Mazda Motor Corp, gained 0.76 percent to 11.95 yuan. Chongqing Chang'an Automobile Co rose 0.69 percent to 7.31 yuan.

Ping An Insurance (Group) Co, China's second-biggest insurer, surged 5.95 percent to close at 41.13 yuan.

Finance

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403号-1
|
互联网新闻信息服务许可证：31120180004
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

Auto makers drive key stock index to advance

Email this to your friend