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Energy shares power Shanghai index
By Ding Yining |
September 21, 2012, Friday
|
Online Edition
Online Edition
THE Shanghai stock market rebounded in the morning session led by financial shares and the commodities sector after falling for three days this week. The benchmark Shanghai Composite Index rose 0.52 percent, or 10.55 points, to 2,035.39 points. Turnover was 27 billion yuan(US$4.3 billion). The rebound is seen as a temporary adjustment after the index closed at the lowest level in 43 months yesterday.Energy shares pushed up the index. Zhongjin Gold Mining Co surged 4.76 percent to 18.26 yuan. Yunnan Copper rose 1.78 percent to 16.59 yuan. Brokerages were also among the gainers. GF Securities added 2.64 percent to 12.42 yuan. Guoyuan Securities rose 1.33 percent to 10.70 yuan. Ship makers were among the losers as drops in vessel orders and an overall slump shipping market hurt earnings. CSSC Jiangnan Heavy Industry Co dropped 4.87 percent to 15.44 yuan. Guangzhou Shipyard International Co Ltd retreated 4.63 percent to 13.61 yuan.
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