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Better US data lift Chinese shares
By Feng Jianmin and Pan Xiaoyi |
September 2, 2010, Thursday
|
Online Edition
Online Edition
SHANGHAI'S key stock index rose today, taking cues from a strong US market overnight on better-than-estimated US industrial output.
The benchmark Shanghai Composite climbed 1.25 percent, or 32.89 points, to close at 2,655.78 points. Turnover rose to 142.1 billion yuan (US$20.9 billion) from 138.5 billion yuan.
The Shenzhen Composite Index, which tracks the smaller domestic market, went up 1.8 percent to 1,172.34 points.
The Institute for Supply Management announced yesterday that US manufacturing rose in August for the 13th consecutive month. The ISM index rose to 56.3 in August from 55.5 in July.
Metal and oil producers led the gainers as prices for copper, aluminum and crude oil rose yesterday on positive economic outlook.
Jiangxi Copper, China's biggest producer of the metal, added 0.9 percent to 31.54 yuan. Aluminum Corp of China, the listed unit of nation's biggest maker, rose 1.7 percent to 10.09 yuan. Tongling Nonferrous Metals Group Co added 3.1 percent to 17.48 yuan.
PetroChina, the biggest index component, added 0.8 percent to 10.31 yuan. China Petroleum & Chemical Corp, Asia's largest refiner, edged up 1.8 percent to 8.36 yuan.
Auto producers advanced as statistics showed that 1.21 million vehicles were sold in China in August, up 55.7 percent from a year earlier. SAIC Motor Co, China's largest car maker jumped 8.9 percent to 17.5 yuan. FAW Car Co hiked by 10 percent daily limit to 18.36 yuan. DongFeng Automobile Co climbed 4.9 percent to 5.82 yuan.
The benchmark Shanghai Composite climbed 1.25 percent, or 32.89 points, to close at 2,655.78 points. Turnover rose to 142.1 billion yuan (US$20.9 billion) from 138.5 billion yuan.
The Shenzhen Composite Index, which tracks the smaller domestic market, went up 1.8 percent to 1,172.34 points.
The Institute for Supply Management announced yesterday that US manufacturing rose in August for the 13th consecutive month. The ISM index rose to 56.3 in August from 55.5 in July.
Metal and oil producers led the gainers as prices for copper, aluminum and crude oil rose yesterday on positive economic outlook.
Jiangxi Copper, China's biggest producer of the metal, added 0.9 percent to 31.54 yuan. Aluminum Corp of China, the listed unit of nation's biggest maker, rose 1.7 percent to 10.09 yuan. Tongling Nonferrous Metals Group Co added 3.1 percent to 17.48 yuan.
PetroChina, the biggest index component, added 0.8 percent to 10.31 yuan. China Petroleum & Chemical Corp, Asia's largest refiner, edged up 1.8 percent to 8.36 yuan.
Auto producers advanced as statistics showed that 1.21 million vehicles were sold in China in August, up 55.7 percent from a year earlier. SAIC Motor Co, China's largest car maker jumped 8.9 percent to 17.5 yuan. FAW Car Co hiked by 10 percent daily limit to 18.36 yuan. DongFeng Automobile Co climbed 4.9 percent to 5.82 yuan.
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