Banks pull index from 2-month low
By Ye Zhen |
March 15, 2013, Friday
|
Print Edition
Print Edition
SHANGHAI stocks yesterday rebounded from a two-month low after falling for five straight days amid optimism among lenders over their earnings.
The Shanghai Composite Index added 0.28 percent to 2,270.28 points.
"China's major listed lenders may post robust earnings for 2012 as major indicators, including return on assets, return on equity, capital adequacy ratio and bad loan ratio, point to a strong performance,'' Pan Gongsheng, vice governor of the People's Bank of China, said on Wednesday.
Shanghai Pudong Development Bank led the gainers by lenders, rising 2 percent to 10.45 yuan (US$1.68), after reporting a 25 percent gain in net earnings last year. The Agricultural Bank of China rose 1.4 percent to 2.84 yuan, and China Minsheng Banking Corp added 0.8 percent to 9.86 yuan.
The Shanghai Composite Index added 0.28 percent to 2,270.28 points.
"China's major listed lenders may post robust earnings for 2012 as major indicators, including return on assets, return on equity, capital adequacy ratio and bad loan ratio, point to a strong performance,'' Pan Gongsheng, vice governor of the People's Bank of China, said on Wednesday.
Shanghai Pudong Development Bank led the gainers by lenders, rising 2 percent to 10.45 yuan (US$1.68), after reporting a 25 percent gain in net earnings last year. The Agricultural Bank of China rose 1.4 percent to 2.84 yuan, and China Minsheng Banking Corp added 0.8 percent to 9.86 yuan.
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