Brokerages lift key stock index
By Pan Xiaoyi |
January 20, 2010, Wednesday
|
Print Edition
Print Edition
SHANGHAI'S key stock barometer rose for the fourth straight trading day yesterday, led by brokerages, on speculation that stock index futures are to be launched in April.
The Shanghai Composite Index added 0.3 percent, or 9.78 points, to close at 3,246.87. Turnover shrank to 162.7 billion yuan (US$23.9 billion) from 169.8 billion yuan on Monday.
The China Securities Journal reported that stock index futures are expected to debut in early April.
The report also said margin trading and short selling will be introduced following the launch of the index futures.
''The accelerated pace of rolling out innovative financial products indicated the regulator's efforts to contain further correction of heavyweights and blue chips,'' Nanjing Securities Co wrote.
Everbright Securities Co jumped 1.4 percent to 28.06 yuan and CITIC Securities Co edged up 0.3 percent to 31 yuan. Haitong Securities Co rose 1.5 percent to 18.07 yuan and Pacific Securities Co gained 1.9 percent to close at 18.39 yuan.
The Shanghai Composite Index added 0.3 percent, or 9.78 points, to close at 3,246.87. Turnover shrank to 162.7 billion yuan (US$23.9 billion) from 169.8 billion yuan on Monday.
The China Securities Journal reported that stock index futures are expected to debut in early April.
The report also said margin trading and short selling will be introduced following the launch of the index futures.
''The accelerated pace of rolling out innovative financial products indicated the regulator's efforts to contain further correction of heavyweights and blue chips,'' Nanjing Securities Co wrote.
Everbright Securities Co jumped 1.4 percent to 28.06 yuan and CITIC Securities Co edged up 0.3 percent to 31 yuan. Haitong Securities Co rose 1.5 percent to 18.07 yuan and Pacific Securities Co gained 1.9 percent to close at 18.39 yuan.
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