Related News
Better January PMI buoys up Shanghai index
By Hu Xiaocen |
February 2, 2012, Thursday
|
Online Edition
Online Edition
THE Shanghai Composite Index edged up in the morning session on the better-than-expected official Purchasing Managers' Index for January.
The key index advanced 0.31 percent, or 6.96 points, to 2,275.04, by midday with a turnover of 24.2 billion yuan (US$3.8 billion).
The official PMI for January released yesterday was 50.5, 0.2 points higher than that of December, indicating an expansion of industrial activities in large state-owned enterprises.
"PMI for January is higher than the market estimate of 49.6," Industrial Securities said in a note today. "The stronger PMI indicates that China's economy is having a soft landing as the government's proactive fiscal policy and flexible monetary policy are revitalizing manufacturers."
Coal producers led the advance on hope of more product demands. Yanzhou Coal Mining jumped 1.75 percent to 23.9 yuan. China Shenhua Energy gained 1.2 percent to 26.89 yuan.
The key index advanced 0.31 percent, or 6.96 points, to 2,275.04, by midday with a turnover of 24.2 billion yuan (US$3.8 billion).
The official PMI for January released yesterday was 50.5, 0.2 points higher than that of December, indicating an expansion of industrial activities in large state-owned enterprises.
"PMI for January is higher than the market estimate of 49.6," Industrial Securities said in a note today. "The stronger PMI indicates that China's economy is having a soft landing as the government's proactive fiscal policy and flexible monetary policy are revitalizing manufacturers."
Coal producers led the advance on hope of more product demands. Yanzhou Coal Mining jumped 1.75 percent to 23.9 yuan. China Shenhua Energy gained 1.2 percent to 26.89 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.
