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Chinese stock rise on stronger exports
By Feng Jianmin |
October 13, 2010, Wednesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index grew for the fifth day, driven by strong export data in September.
The benchmark Shanghai Composite Index rose 0.7 percent, or 19.95 points, to close at 2,861.22 points. Turnover stood at 228.4 billion yuan (US$34.2 billion), slightly higher than yesterday's 211.8 billion yuan.
The Shenzhen Component Index, which tracks the smaller mainland exchange, grew 1.86 percent to 12,603.
Exports rose to US$145 billion in September, 25.1 percent higher from a year earlier, while imports climbed to US$128.1 billion, rising 24.1 percent from last year, the customs bureau said on its website today. The total volume of imports and exports broke a history high that was set in July.
Cement firms gained after the central government encouraged sales of the construction material to the countryside. Tangshan Jidong Cement Co climbed 5.34 percent to 24.28 yuan. Anhui Conch Cement Co advanced 4 percent to 25.78 yuan. Xinjiang West Construction Co rose 4.9 percent to 23.11 yuan.
Property developers led the gainers. China Vanke, China's largest developer, surged 6.82 percent to 9.40 yuan. Poly Real Estate Co jumped by a daily limit of 10 percent to 15 yuan. China Merchants Property Development Co hiked 9.53 percent to 20 yuan.
Coal producers retreated on concerns that previous gains were excessive. Datong Coal Industry Co lost 1.32 percent to 20.96 yuan. China Shenhua Energy Co shed 1.96 percent to 27.52 yuan. Gansu Jingyuan Coal and Electric Energy Co went down 2.09 percent to 18.28 yuan.
The benchmark Shanghai Composite Index rose 0.7 percent, or 19.95 points, to close at 2,861.22 points. Turnover stood at 228.4 billion yuan (US$34.2 billion), slightly higher than yesterday's 211.8 billion yuan.
The Shenzhen Component Index, which tracks the smaller mainland exchange, grew 1.86 percent to 12,603.
Exports rose to US$145 billion in September, 25.1 percent higher from a year earlier, while imports climbed to US$128.1 billion, rising 24.1 percent from last year, the customs bureau said on its website today. The total volume of imports and exports broke a history high that was set in July.
Cement firms gained after the central government encouraged sales of the construction material to the countryside. Tangshan Jidong Cement Co climbed 5.34 percent to 24.28 yuan. Anhui Conch Cement Co advanced 4 percent to 25.78 yuan. Xinjiang West Construction Co rose 4.9 percent to 23.11 yuan.
Property developers led the gainers. China Vanke, China's largest developer, surged 6.82 percent to 9.40 yuan. Poly Real Estate Co jumped by a daily limit of 10 percent to 15 yuan. China Merchants Property Development Co hiked 9.53 percent to 20 yuan.
Coal producers retreated on concerns that previous gains were excessive. Datong Coal Industry Co lost 1.32 percent to 20.96 yuan. China Shenhua Energy Co shed 1.96 percent to 27.52 yuan. Gansu Jingyuan Coal and Electric Energy Co went down 2.09 percent to 18.28 yuan.
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