Blue chips lead Shanghai index in a sudden rally of 5.9%

By Ye Zhen | August 16, 2013, Friday |

Online Edition

SHANGHAI stocks traded erratically in the morning session with most of heavily-weighted blue chips hitting the limit-up in a dizzying rise.

The key Shanghai Composite Index, which traded in the negative territory for most of the morning session, shot up straightly at around 11:05 am and soared up to 5.9 percent. It close 3.19 percent higher to 2,148.39 points by the noon break. Half-day turnover was 65.5 billion yuan (US$10.7 billion).

Financial shares led the surge. China Minsheng Banking Corp erased early loss and leapt 8.2 percent to 9.62 yuan. Industrial Bank Co soared 8.7 percent to 10.93 yuan. Shanghai Pudong Development Bank Co added 7 percent to 8.80 yuan.

Haitong Securities shot up 8.6 percent to 12.14 yuan. CITIC Securities, China’s biggest listed broker, jumped 7 percent to 11.92 yuan.

China Petroleum and Chemical Co, China's largest oil refiner, rose 3.1 percent to 4.64 yuan. PetroChina Co, the second biggest player, increased 3.86 percent to 8.34 yuan, paring an early gain of 10 percent.

There is no clue to explain such a rally, market watchers said.

Shanghai Stock Exchange posted an announcement on Weibo saying that its trading system is operating properly by midday.

Finance

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

Blue chips lead Shanghai index in a sudden rally of 5.9%

Email this to your friend