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Banks buoy up index for first time this week
By MarkeDing Yining |
February 9, 2010, Tuesday
|
Online Edition
Online Edition
SHANGHAI'S market closed higher today for the first time in four days as banks and metal producers gained.
The benchmark Shanghai Composite Index rose 0.47 percent, or 13.67 points, to close at 2,948.84 points. Turnover was lowered to 68 billion yuan (US$10 billion) from yesterday's 73.2 billion yuan. Gainers outnumbered losers 516 to 346, and 51 shares remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, edged up 0.11 percent to close at 1,100.41 points.
Banks rebounded from previous losses. Shanghai Pudong Development Bank rose 1.04 percent to 19.42 yuan. Bank of Communications edged up 0.62 percent to 8.13 yuan. China Merchants Bank added 1.19 percent to 15.31 yuan.
Metal producers also lifted the index. Shandong Gold Mining Co advanced 2.35 percent to 65.84 yuan. Yunnan Copper Co rose 2.92 percent to 24.70 yuan. Aluminum Corporation of China Ltd lost 1.57 percent to 12.30 yuan.
Real estate developers were weak. Poly Real Estate Group dipped 0.21 percent to 18.64 yuan. Shanghai Shimao Co Ltd lost 0.93 percent to 13.81 yuan. China Vanke Co, the biggest listed domestic real estate developer, was down 0.33 percent to 9.09 yuan.
China Baoan Group said it plans to raise 950 million yuan to fund real estate projects through a private share placement. The stock sank 2.59 percent to 10.52 yuan.
Chongqing Gangjiu Co, the inland shipping service provider, surged 7.84 percent to 13.07 yuan after the western China city was selected among the five key cities by the Ministry of Housing and Urban-Rural Development, according to Xinhua news agency. The other four key cities are Beijing, Tianjin, Shanghai and Guangzhou.
The benchmark Shanghai Composite Index rose 0.47 percent, or 13.67 points, to close at 2,948.84 points. Turnover was lowered to 68 billion yuan (US$10 billion) from yesterday's 73.2 billion yuan. Gainers outnumbered losers 516 to 346, and 51 shares remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, edged up 0.11 percent to close at 1,100.41 points.
Banks rebounded from previous losses. Shanghai Pudong Development Bank rose 1.04 percent to 19.42 yuan. Bank of Communications edged up 0.62 percent to 8.13 yuan. China Merchants Bank added 1.19 percent to 15.31 yuan.
Metal producers also lifted the index. Shandong Gold Mining Co advanced 2.35 percent to 65.84 yuan. Yunnan Copper Co rose 2.92 percent to 24.70 yuan. Aluminum Corporation of China Ltd lost 1.57 percent to 12.30 yuan.
Real estate developers were weak. Poly Real Estate Group dipped 0.21 percent to 18.64 yuan. Shanghai Shimao Co Ltd lost 0.93 percent to 13.81 yuan. China Vanke Co, the biggest listed domestic real estate developer, was down 0.33 percent to 9.09 yuan.
China Baoan Group said it plans to raise 950 million yuan to fund real estate projects through a private share placement. The stock sank 2.59 percent to 10.52 yuan.
Chongqing Gangjiu Co, the inland shipping service provider, surged 7.84 percent to 13.07 yuan after the western China city was selected among the five key cities by the Ministry of Housing and Urban-Rural Development, according to Xinhua news agency. The other four key cities are Beijing, Tianjin, Shanghai and Guangzhou.
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