Related News
Banks lift Shanghai index on strong earnings
By Ye Zhen |
August 17, 2012, Friday
|
Online Edition
Online Edition
SHANGHAI shares ended slightly higher today, lifted by heavily-weighted bank stocks, as investors speculated the government may take steps to boost economy during the weekend.
The benchmark Shanghai Composite Index inched up 0.13 percent, or 2.69 points to 2,114.89 points. Turnover was 39.2 billion yuan (US$6.2 billion) at the trading close. For the week, the index lost 2.49 percent.
Speculation is renewed that policymakers are likely to loosen policy this weekend, after Premier Wen Jiabao said there's growing room for monetary policy tools as inflation eased.
Bank stocks gained after several lenders reported strong gains in first-half profit. Ping An Bank Co rose 1 percent to close at 15.06 yuan, after it posted a first-half net profit growth of 43 percent from a year earlier.
Shanghai Pudong Development Bank Co added 0.3 percent to 7.55 yuan as the company's first-half net profit increased 33 percent annually. An annual growth of 42 percent in first-half net profit sent Hua Xia Bank Co 1.1 percent higher to finish at 8.82 yuan.
Shandong Gold Mining Co advanced among gold miners after it reported a 34 percent annualized growth in first-half profit. Zijin Mining Group Co, the nation's largest gold producer, increased 1.1 percent to 3.83 yuan. Zhongjin Gold Corp climbed 1.2 percent to 21.94 yuan.
Distilleries slumped. Kweichow Moutai Co, a leading producer of high-end liquor in China, dropped 4 percent to 229.62 yuan. Sichuan Tuopai Shede Wine Co tumbled 3.1 percent to 32.87 yuan. Shanxi Xinghuacun Fen Wine Factory Co slumped 3.6 percent to 37.31 yuan.
Analysts expect distilleries to face high pressure of destocking in the second half year due to a flagging economy and limitation on government reception expenditure.
The benchmark Shanghai Composite Index inched up 0.13 percent, or 2.69 points to 2,114.89 points. Turnover was 39.2 billion yuan (US$6.2 billion) at the trading close. For the week, the index lost 2.49 percent.
Speculation is renewed that policymakers are likely to loosen policy this weekend, after Premier Wen Jiabao said there's growing room for monetary policy tools as inflation eased.
Bank stocks gained after several lenders reported strong gains in first-half profit. Ping An Bank Co rose 1 percent to close at 15.06 yuan, after it posted a first-half net profit growth of 43 percent from a year earlier.
Shanghai Pudong Development Bank Co added 0.3 percent to 7.55 yuan as the company's first-half net profit increased 33 percent annually. An annual growth of 42 percent in first-half net profit sent Hua Xia Bank Co 1.1 percent higher to finish at 8.82 yuan.
Shandong Gold Mining Co advanced among gold miners after it reported a 34 percent annualized growth in first-half profit. Zijin Mining Group Co, the nation's largest gold producer, increased 1.1 percent to 3.83 yuan. Zhongjin Gold Corp climbed 1.2 percent to 21.94 yuan.
Distilleries slumped. Kweichow Moutai Co, a leading producer of high-end liquor in China, dropped 4 percent to 229.62 yuan. Sichuan Tuopai Shede Wine Co tumbled 3.1 percent to 32.87 yuan. Shanxi Xinghuacun Fen Wine Factory Co slumped 3.6 percent to 37.31 yuan.
Analysts expect distilleries to face high pressure of destocking in the second half year due to a flagging economy and limitation on government reception expenditure.
- 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.
