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Cement makers pace rally in Shanghai
By Lydia Chen |
April 7, 2011, Thursday
|
Online Edition
Online Edition
SHANGHAI stock market edged up this morning, riding on rallying cement makers over the industry's sales boom while oil refiners were up after China raised gasoline prices.
The Shanghai Composite Index moved 0.11 percent higher at midday to 3,004.65.
Cement makers paced increases among all sectors with a jump of 4.51 percent for the sector as analysts at Shanxi Securities said sales of cement in most parts of China are now entering their annual peak seasons amid the country's massive affordable housing projects.
Huaxin Cement Co jumped the daily cap of 10 percent to 54.71 yuan (US$8.35). Anhui Conch Cement Co climbed 4.26 percent to 42.57 yuan.
The morning session's gains were also partly contributed by market heavyweights such as Sinopec which was buoyed by the country's latest gasoline price raise.
Sinopec, the country's biggest oil refiner, added 0.34 percent to 8.74 yuan. Sinopec Shanghai Petrochemical Co advanced 1.22 percent to 9.1 yuan.
The Shanghai Composite Index moved 0.11 percent higher at midday to 3,004.65.
Cement makers paced increases among all sectors with a jump of 4.51 percent for the sector as analysts at Shanxi Securities said sales of cement in most parts of China are now entering their annual peak seasons amid the country's massive affordable housing projects.
Huaxin Cement Co jumped the daily cap of 10 percent to 54.71 yuan (US$8.35). Anhui Conch Cement Co climbed 4.26 percent to 42.57 yuan.
The morning session's gains were also partly contributed by market heavyweights such as Sinopec which was buoyed by the country's latest gasoline price raise.
Sinopec, the country's biggest oil refiner, added 0.34 percent to 8.74 yuan. Sinopec Shanghai Petrochemical Co advanced 1.22 percent to 9.1 yuan.
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