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Congress hopes increase Shanghai index
By Joyce Pan |
February 24, 2010, Wednesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index rose more than 1 percent today, led by health-care companies in anticipation they will benefit from new policies to be discussed in China's top legislative sessions next week.
The benchmark Shanghai Composite Index added 1.33 percent, or 39.6 points, to close at 3,022.18 points. Turnover rose to 98.2 billion yuan (US$14.4 billion). Gainers outnumbered losers 831 to 54 and 11 shares remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 2.29 percent to close at 1,153.94 points.
The National People's Congress and the Chinese People's Political Consultative Conference will begin annual sessions in Beijing next week. Medical reforms, rising home prices and widened personal income gaps are among hot topics, according to an online poll conducted by people.cn of China's flagship newspaper People's Daily, xinhuanet.com of Xinhua news agency and cctv.com of the state-run TV network.
Tianjin Zhongxin Pharmaceutical Group Co advanced 3.9 percent to 26.84 yuan. Zhejiang Conba Pharmaceutical Co jumped 3.2 percent to 13.38 yuan. China National Medicines Corp climbed 3 percent to 28.3 yuan.
Power producers were among the gainers. GD Power Development Co surged 5.4 percent to 7.28 yuan. Datang International Power Generational Co rose 2.3 percent to 8.52 yuan and Huadian Power International Corp increased 2.2 percent to 5.1 yuan.
The benchmark Shanghai Composite Index added 1.33 percent, or 39.6 points, to close at 3,022.18 points. Turnover rose to 98.2 billion yuan (US$14.4 billion). Gainers outnumbered losers 831 to 54 and 11 shares remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 2.29 percent to close at 1,153.94 points.
The National People's Congress and the Chinese People's Political Consultative Conference will begin annual sessions in Beijing next week. Medical reforms, rising home prices and widened personal income gaps are among hot topics, according to an online poll conducted by people.cn of China's flagship newspaper People's Daily, xinhuanet.com of Xinhua news agency and cctv.com of the state-run TV network.
Tianjin Zhongxin Pharmaceutical Group Co advanced 3.9 percent to 26.84 yuan. Zhejiang Conba Pharmaceutical Co jumped 3.2 percent to 13.38 yuan. China National Medicines Corp climbed 3 percent to 28.3 yuan.
Power producers were among the gainers. GD Power Development Co surged 5.4 percent to 7.28 yuan. Datang International Power Generational Co rose 2.3 percent to 8.52 yuan and Huadian Power International Corp increased 2.2 percent to 5.1 yuan.
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