Related News
Developers and banks power Shanghai index
By Feng Jianmin |
September 30, 2010, Thursday
|
Online Edition
Online Edition
SHANGHAI'S key stock index rose in the morning session after property developers rebounded from recent declines as tightening measures unveiled yesterday had already been digested.
The benchmark Shanghai Composite Index went up 1.46 percent, or 38 points, to close at 2,648.68 points. Turnover fell to 51.1 billion yuan (US$ 7.63 billion) from yesterday morning's 58.7 billion.
The Shenzhen Component Index, which tracks the smaller mainland exchange, also increased 1.46 percent to 11,387.21.
The central government has ordered commercial banks to stop offering loans to buyers of third homes and extended a 30 percent down payment requirement to all first-home buyers, according to a statement on government's website yesterday.
China will also speed up introduction of a trial property tax in some cities and then expand the levy to the whole country to curb rising real estate prices, according to the statement.
Lvjing Realestate Co led the gainers by hiking a daily limit of 10 percent to 9.83 yuan. China Vanke, China's largest developer, jumped 4.23 percent to 8.14 yuan. Poly Real Estate Co advanced 6.34 percent to 12.07 yuan. Gemdale Corp grew 4.26 percent to 6.36 yuan.
Banks were strong on a positive policy outlook. Agricultural Bank of China rose 3.95 percent to 2.63 yuan. Industrial and Commercial Bank of China added 1 percent to 4.05 yuan. Bank of Communications went up 1.75 percent to 5.83 yuan.
Gold producers rallied as bullion prices stood at record highs while the US dollar went weak. Zhongjin Gold Co rose 2.25 percent to 38.65 yuan. Shandong Gold Mining Co gained 3.29 percent to 54 yuan. Zijin Ming Group Co, China's largest gold producer, jumped 6.14 percent to 7.09 yuan.
The benchmark Shanghai Composite Index went up 1.46 percent, or 38 points, to close at 2,648.68 points. Turnover fell to 51.1 billion yuan (US$ 7.63 billion) from yesterday morning's 58.7 billion.
The Shenzhen Component Index, which tracks the smaller mainland exchange, also increased 1.46 percent to 11,387.21.
The central government has ordered commercial banks to stop offering loans to buyers of third homes and extended a 30 percent down payment requirement to all first-home buyers, according to a statement on government's website yesterday.
China will also speed up introduction of a trial property tax in some cities and then expand the levy to the whole country to curb rising real estate prices, according to the statement.
Lvjing Realestate Co led the gainers by hiking a daily limit of 10 percent to 9.83 yuan. China Vanke, China's largest developer, jumped 4.23 percent to 8.14 yuan. Poly Real Estate Co advanced 6.34 percent to 12.07 yuan. Gemdale Corp grew 4.26 percent to 6.36 yuan.
Banks were strong on a positive policy outlook. Agricultural Bank of China rose 3.95 percent to 2.63 yuan. Industrial and Commercial Bank of China added 1 percent to 4.05 yuan. Bank of Communications went up 1.75 percent to 5.83 yuan.
Gold producers rallied as bullion prices stood at record highs while the US dollar went weak. Zhongjin Gold Co rose 2.25 percent to 38.65 yuan. Shandong Gold Mining Co gained 3.29 percent to 54 yuan. Zijin Ming Group Co, China's largest gold producer, jumped 6.14 percent to 7.09 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
