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Financial and energy firms power Shanghai index
By Ding Yining |
September 13, 2010, Monday
|
Online Edition
Online Edition
SHANGHAI'S key stock index closed up nearly 1 percent in the morning session, lifted by financial shares and heavily-weighted energy companies.
The benchmark Shanghai Composite Index rose 0.94 percent, or 25.13 points, to close at 2,688.34 points. Turnover was 77.5 billion yuan(US$11.4 billion).
The Shenzhen Composite Index, which tracks the smaller domestic market, jumped 1.48 percent to close at 1,205 points.
Banks and insurers ended higher. Pudong Development Bank edged up 0.15 percent to 13.53 yuan. China Citic Bank rose 0.93 percent to 5.45 yuan. Ping An Insurance Group advanced 2.14 percent to 50.11 yuan.
Brokerages also closed higher. Sinolink Securities added 1.49 percent to 17.08 yuan. Haitong Securities rose 0.96 percent to 9.49 yuan.
China Petroleum & Chemical Corp, Asia's largest oil refiner, has started building a liquefied natural gas terminal in the Shandong Province. Its shares jumped 1.47 percent to 8.26 yuan. China Shenhua Energy Co, the country's biggest coal producer, edged up 0.30 percent to 23.76 yuan. PetroChina, the biggest index component, added 0.59 percent to 10.24 yuan.
The property sector also pushed up the index. China Vanke Co jumped 2.33 percent to 8.35 yuan. Gemdale Corporation rose 2.39 percent 6.42 yuan. Shanghai Shimao Co was up 2.08 percent to 12.28 yuan.
Travel agencies and consumer shares were also strong among expectations that spending during the National Day holiday will boost their incomes. Beijing Capital Tourism Co hiked 5.99 percent to 26.35 yuan. Wuhan Sante Cableways Group Co rallied 5.43 percent to 22.31 yuan. Xi'an Tourism Co advanced 3 percent to 9.26 yuan.
The benchmark Shanghai Composite Index rose 0.94 percent, or 25.13 points, to close at 2,688.34 points. Turnover was 77.5 billion yuan(US$11.4 billion).
The Shenzhen Composite Index, which tracks the smaller domestic market, jumped 1.48 percent to close at 1,205 points.
Banks and insurers ended higher. Pudong Development Bank edged up 0.15 percent to 13.53 yuan. China Citic Bank rose 0.93 percent to 5.45 yuan. Ping An Insurance Group advanced 2.14 percent to 50.11 yuan.
Brokerages also closed higher. Sinolink Securities added 1.49 percent to 17.08 yuan. Haitong Securities rose 0.96 percent to 9.49 yuan.
China Petroleum & Chemical Corp, Asia's largest oil refiner, has started building a liquefied natural gas terminal in the Shandong Province. Its shares jumped 1.47 percent to 8.26 yuan. China Shenhua Energy Co, the country's biggest coal producer, edged up 0.30 percent to 23.76 yuan. PetroChina, the biggest index component, added 0.59 percent to 10.24 yuan.
The property sector also pushed up the index. China Vanke Co jumped 2.33 percent to 8.35 yuan. Gemdale Corporation rose 2.39 percent 6.42 yuan. Shanghai Shimao Co was up 2.08 percent to 12.28 yuan.
Travel agencies and consumer shares were also strong among expectations that spending during the National Day holiday will boost their incomes. Beijing Capital Tourism Co hiked 5.99 percent to 26.35 yuan. Wuhan Sante Cableways Group Co rallied 5.43 percent to 22.31 yuan. Xi'an Tourism Co advanced 3 percent to 9.26 yuan.
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