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Blue chips push stocks up in early trade
By Lu Nengneng |
March 27, 2012, Tuesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index continued to edge up in morning trade on strong blue chip performance amid market consolidation.
The benchmark Shanghai Composite Index rose 0.2 percent to 2,355.29 points. Turnover stood low at 34.5 billion yuan (US$5.5 billion).
Sun Jianbo, chief strategy analyst at Galaxy Securities, said the stock market will continue its upward track in the second quarter while volatility will continue in the long run.
The property sector ended in the red by noon break after the Housing Ministry said yesterday that it hasn't decided on the scope of property tax trials for this year.
However China Vanke, the country's largest property developer, rose 0.5 percent to 8.06 yuan. Poly Real Estate gained 1.05 percent to 10.63 yuan. China Merchants Property development increased 0.67 percent to 19.47 yuan.
Metal producers also advanced. Jiangxi Copper, China's biggest producer of the metal, added 0.93 percent to 26.1 yuan. Zhongjin Gold strengthened 2.94 percent to 22.03 yuan.
The benchmark Shanghai Composite Index rose 0.2 percent to 2,355.29 points. Turnover stood low at 34.5 billion yuan (US$5.5 billion).
Sun Jianbo, chief strategy analyst at Galaxy Securities, said the stock market will continue its upward track in the second quarter while volatility will continue in the long run.
The property sector ended in the red by noon break after the Housing Ministry said yesterday that it hasn't decided on the scope of property tax trials for this year.
However China Vanke, the country's largest property developer, rose 0.5 percent to 8.06 yuan. Poly Real Estate gained 1.05 percent to 10.63 yuan. China Merchants Property development increased 0.67 percent to 19.47 yuan.
Metal producers also advanced. Jiangxi Copper, China's biggest producer of the metal, added 0.93 percent to 26.1 yuan. Zhongjin Gold strengthened 2.94 percent to 22.03 yuan.
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