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Banks and metal lift index
By Ding Yining |
March 19, 2010, Friday
|
Online Edition
Online Edition
SHANGHAI'S market closed higher today, with financial shares and metal producers lifting the index, although turnover remained flat on the last trading day of the week.
The benchmark Shanghai Composite Index was up 0.71 percent, or 21.66 points, to close at 3,067.75 points. Turnover was 103 billion yuan (US$15.1 billion). Gainers outnumbered losers 674 to 174, and 70 shares remained unchanged. The gauge added 1.92 percent this week.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 0.81 percent to close at 1,181.50 points.
Baoshan Iron & Steel Co, the largest steel producer, rose 0.73 percent to 8.28 yuan. Wuhan Iron & Steel added 1.04 percent to 6.79 yuan.
Shanghai Pudong Development Bank was up 0.46 percent to 21.80 yuan. China Construction Bank rose 0.54 percent to 5.59 yuan. Industrial Bank edged up 0.31 percent to 35.69 yuan.
Wuliangye Yibin Co, the country's second biggest maker of white liquor, said profit rose 79 percent to 3.2 billion yuan in 2009. The stock advanced 2.64 percent to 28.03 yuan.
Property shares also lifted the index after government ordered all central government-controlled enterprises whose core business is not real estate to pull out of property development after completing their ongoing projects. The market expects the move to benefit property developers. China Vanke Co added 0.84 percent to 9.62 yuan. COFCO Property Group Co rallied 5.68 percent to 10.23 yuan.
FAW Car Co, the country's second largest car producer, said profit in 2009 advanced 50 percent to 1.63 billion yuan. Its shares remained unchanged at 22.31 yuan.
Metal producers were also among the gainers. Zijin Gold Mining Co added 1.59 percent to 8.33 yuan. Yunnan Copper Co jumped 2.68 percent to 26.01 yuan. Jiangxi Copper Co rose 2.18 percent to 35.68 yuan.
The benchmark Shanghai Composite Index was up 0.71 percent, or 21.66 points, to close at 3,067.75 points. Turnover was 103 billion yuan (US$15.1 billion). Gainers outnumbered losers 674 to 174, and 70 shares remained unchanged. The gauge added 1.92 percent this week.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 0.81 percent to close at 1,181.50 points.
Baoshan Iron & Steel Co, the largest steel producer, rose 0.73 percent to 8.28 yuan. Wuhan Iron & Steel added 1.04 percent to 6.79 yuan.
Shanghai Pudong Development Bank was up 0.46 percent to 21.80 yuan. China Construction Bank rose 0.54 percent to 5.59 yuan. Industrial Bank edged up 0.31 percent to 35.69 yuan.
Wuliangye Yibin Co, the country's second biggest maker of white liquor, said profit rose 79 percent to 3.2 billion yuan in 2009. The stock advanced 2.64 percent to 28.03 yuan.
Property shares also lifted the index after government ordered all central government-controlled enterprises whose core business is not real estate to pull out of property development after completing their ongoing projects. The market expects the move to benefit property developers. China Vanke Co added 0.84 percent to 9.62 yuan. COFCO Property Group Co rallied 5.68 percent to 10.23 yuan.
FAW Car Co, the country's second largest car producer, said profit in 2009 advanced 50 percent to 1.63 billion yuan. Its shares remained unchanged at 22.31 yuan.
Metal producers were also among the gainers. Zijin Gold Mining Co added 1.59 percent to 8.33 yuan. Yunnan Copper Co jumped 2.68 percent to 26.01 yuan. Jiangxi Copper Co rose 2.18 percent to 35.68 yuan.
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