Gold shares lift market from earlier decline
Print Edition
SHANGHAI stocks edged up yesterday as gold counters lifted the market after it declined earlier on sluggish manufacturing data.
The Shanghai Composite Index added 0.05 percent to end at 2,027.35 after falling nearly 0.9 percent earlier.
Gold stocks gained after spot gold prices rose to a three-week high of US$1,308.50 an ounce on escalating political tension in Ukraine.
Yantai Yuancheng Gold Co surged 7.1 percent to 10.68 yuan (US$1.71). Chifeng Jilong Gold Mining Co jumped 3.3 percent to 13.95 yuan.
The market fell earlier after data showed China’s manufacturing sector continued to contract in April.
The HSBC Manufacturing Purchasing Managers’ Index, a gauge of industrial activity slanted toward private and export-oriented enterprises, climbed to 48.1 in April, a slight increase from 48 in the month before, according to HSBC Holdings PLC yesterday.
The index has stayed below 50 that separates contraction from expansion for four months in a row, indicating a sluggish manufacturing sector.
- 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.
