Eyes on AgBank listing, data
By Feng Jianmin and Pan Xiaoyi |
July 15, 2010, Thursday
|
Print Edition
Print Edition
SHANGHAI stocks ended higher yesterday on speculation the listing of the Agricultural Bank of China and the unveiling of second-quarter economic data today will boost the market in the short-term.
The Shanghai Composite Index rose 0.82 percent, or 20.15 points, to close at 2,470.44. Turnover rose to 70.2 billion yuan (US$10.32 billion) from 63.3 billion yuan on Tuesday.
AgBank will start trading in Shanghai today after raising a record amount of about 60 billion yuan in its initial public offering.
"Market investors are anticipating a good debut performance by the Agricultural Bank of China, which could lift the banking sector and shore up the key index in the short term," said Li Panfeng, a Haishun Consulting Co analyst.
The National Bureau of Statistics will release data for gross domestic product, the consumer price index, retail sales and other financial figures today.
Bank of China rose 0.6 percent to 3.53 yuan, China Construction Bank climbed 1.1 percent to 4.81 yuan and Shanghai Pudong Development Bank Co added 1.7 percent to 14.41 yuan.
Miners also rose on higher metal prices on the London market and a healthy export outlook. Jiangxi Copper, China's biggest producer of the metal, climbed 3.1 percent to 25.28 yuan. Aluminum Corp of China, the nation's largest maker of the metal, rose 1.8 percent to 9.10 yuan.
The Shanghai Composite Index rose 0.82 percent, or 20.15 points, to close at 2,470.44. Turnover rose to 70.2 billion yuan (US$10.32 billion) from 63.3 billion yuan on Tuesday.
AgBank will start trading in Shanghai today after raising a record amount of about 60 billion yuan in its initial public offering.
"Market investors are anticipating a good debut performance by the Agricultural Bank of China, which could lift the banking sector and shore up the key index in the short term," said Li Panfeng, a Haishun Consulting Co analyst.
The National Bureau of Statistics will release data for gross domestic product, the consumer price index, retail sales and other financial figures today.
Bank of China rose 0.6 percent to 3.53 yuan, China Construction Bank climbed 1.1 percent to 4.81 yuan and Shanghai Pudong Development Bank Co added 1.7 percent to 14.41 yuan.
Miners also rose on higher metal prices on the London market and a healthy export outlook. Jiangxi Copper, China's biggest producer of the metal, climbed 3.1 percent to 25.28 yuan. Aluminum Corp of China, the nation's largest maker of the metal, rose 1.8 percent to 9.10 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.
