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Futures trading boosts brokerages on index
By Ding Yining |
January 11, 2010, Monday
|
Online Edition
Online Edition
SHANGHAI'S market ended higher today led by brokerages after government approved index futures together with margin trading and short selling last Friday, which are expected to boost brokerages' incomes.
The benchmark Shanghai Composite Index was up 0.52 percent, or 16.75 points, to close at 3,212.75 points. Turnover was 177.6 billion yuan (US$26 billion). Gainers outnumbered losers 464 to 402, and 47 stocks remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, edged up 0.18 percent to close at 1,189.95 points.
Index futures, which will be traded on the China Financial Futures Exchange in Shanghai, will take about three months to start up, while the trial period for margin trading and short selling will come relatively soon, the China Securities Regulatory Commission said on Friday.
China Securities Journal reported today that 11 brokerages including Citic Securities and Haitong Securities will vie to start a pilot program for margin trading and short selling, citing an unidentified regulator. The report didn't say how many will be chosen or when the trial will start.
Citic Securities advanced 3.60 percent to 33.42 yuan and Haitong rose 1.06 percent to 19.13 yuan. Everbright Securities jumped 1.49 percent to 28.55 yuan.
The General Administration of Customs said yesterday exports in December increased for the first time in 15 months and climbed 17.7 percent from a year ago to US$130.7 billion. Exports totaled US$1.2 trillion in 2009.
Banking shares were also among the gainers. Industrial & Commercial Bank of China, the nation's biggest lender, rose 1.34 percent to 5.30 yuan. China Construction Bank advanced 1.66 percent to close at 6.14 yuan. Bank of Communications edged up 0.11 percent to 9 yuan.
Property shares were flat after the State Council said over the weekend that governments must strengthen management and facilitate stable and sound development of the real estate market.
China Vanke Co, the biggest listed domestic real estate developer, lost 1.64 percent to 10.18 yuan. Gemdale Corporation lowered 1.94 percent to 13.12 yuan. Poly Real Estate Group retreated 2.28 percent to 21 yuan.
Metal producers also lifted the index. Zijin Mining Co edged up 0.95 percent to 9.52 yuan. Shandong Gold Mining Co jumped 2.16 percent to 79.34 yuan. Zhongjin Gold Mining Co rose 1.35 percent to 56.97 yuan.
The benchmark Shanghai Composite Index was up 0.52 percent, or 16.75 points, to close at 3,212.75 points. Turnover was 177.6 billion yuan (US$26 billion). Gainers outnumbered losers 464 to 402, and 47 stocks remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, edged up 0.18 percent to close at 1,189.95 points.
Index futures, which will be traded on the China Financial Futures Exchange in Shanghai, will take about three months to start up, while the trial period for margin trading and short selling will come relatively soon, the China Securities Regulatory Commission said on Friday.
China Securities Journal reported today that 11 brokerages including Citic Securities and Haitong Securities will vie to start a pilot program for margin trading and short selling, citing an unidentified regulator. The report didn't say how many will be chosen or when the trial will start.
Citic Securities advanced 3.60 percent to 33.42 yuan and Haitong rose 1.06 percent to 19.13 yuan. Everbright Securities jumped 1.49 percent to 28.55 yuan.
The General Administration of Customs said yesterday exports in December increased for the first time in 15 months and climbed 17.7 percent from a year ago to US$130.7 billion. Exports totaled US$1.2 trillion in 2009.
Banking shares were also among the gainers. Industrial & Commercial Bank of China, the nation's biggest lender, rose 1.34 percent to 5.30 yuan. China Construction Bank advanced 1.66 percent to close at 6.14 yuan. Bank of Communications edged up 0.11 percent to 9 yuan.
Property shares were flat after the State Council said over the weekend that governments must strengthen management and facilitate stable and sound development of the real estate market.
China Vanke Co, the biggest listed domestic real estate developer, lost 1.64 percent to 10.18 yuan. Gemdale Corporation lowered 1.94 percent to 13.12 yuan. Poly Real Estate Group retreated 2.28 percent to 21 yuan.
Metal producers also lifted the index. Zijin Mining Co edged up 0.95 percent to 9.52 yuan. Shandong Gold Mining Co jumped 2.16 percent to 79.34 yuan. Zhongjin Gold Mining Co rose 1.35 percent to 56.97 yuan.
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