Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Banks sparkle as key stock index rebounds
By Joyce Pan |
July 31, 2009, Friday
|
Print Edition
Print Edition
SHANGHAI'S key stock index rebounded yesterday from the biggest single-day drop in eight months, as banks advanced after the central government reiterated it will stick to its moderately loose monetary policy.
The Shanghai Composite Index rose 1.69 percent, or 55.13 points, to close at 3,321.56 points. Turnover fell to 219.8 billion yuan (US$32.32 billion) from Wednesday's record 296.9 billion yuan.
China's central bank will maintain the proactive fiscal and loose monetary policy to consolidate the country's economic recovery as it is still vital that the economic situation be stable, said Su Ning, vice governor of the People's Bank of China.
Wu Ling, an analyst at S&E Securities Brokerage Co, said: "The market's volatility rose as investors swung from concerns of asset price bubbles to upbeat market sentiment under the loose monetary policy."
Shanghai Pudong Development Bank Co surged 7.52 percent to 26.89 yuan. The Industrial and Commercial Bank of China added 3.29 percent to 5.34 yuan, China Construction Bank rose 6.02 percent to 6.52 yuan, and the Bank of China climbed 3.81 percent to end at 4.63 yuan.
The Shanghai Composite Index rose 1.69 percent, or 55.13 points, to close at 3,321.56 points. Turnover fell to 219.8 billion yuan (US$32.32 billion) from Wednesday's record 296.9 billion yuan.
China's central bank will maintain the proactive fiscal and loose monetary policy to consolidate the country's economic recovery as it is still vital that the economic situation be stable, said Su Ning, vice governor of the People's Bank of China.
Wu Ling, an analyst at S&E Securities Brokerage Co, said: "The market's volatility rose as investors swung from concerns of asset price bubbles to upbeat market sentiment under the loose monetary policy."
Shanghai Pudong Development Bank Co surged 7.52 percent to 26.89 yuan. The Industrial and Commercial Bank of China added 3.29 percent to 5.34 yuan, China Construction Bank rose 6.02 percent to 6.52 yuan, and the Bank of China climbed 3.81 percent to end at 4.63 yuan.
- 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
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
