Related News
Heavyweights propel market to higher weekly close
By Feng Jianmin |
April 9, 2010, Friday
|
Online Edition
Online Edition
SHANGHAI'S stock market rose today led by heavyweights such as property, metals, banks and securities firms on speculation of yuan appreciation and a stable launch of stock index futures.
The benchmark Shanghai Composite Index, comprised of yuan-dominated A shares and hard-currency B shares, grew 0.83 percent to 3,144.5 points. Turnover was 132.1 billion yuan (US$19.35 billion). Gainers outnumbered losers with 718 to 148, and 54 shares remained unchanged.
Shenzhen Composite Index, which tracks the smaller domestic market, edged up 1.43 percent to 1,249.9 points.
China Vanke Co, the nation's largest listed real estate developer, gained 0.54 percent to 9.39 yuan. Poly Real Estate picked up 0.36 percent to 19.60 yuan, slightly paring its 3.1 percent lost yesterday. China Merchants Property Development Co Ltd was unchanged at 22.73 yuan.
Wuhan Iron and Steel Company Ltd, China's second-largest steel mill, gained 0.3 percent to 6.68 yuan. Anhui Hengyuan Coal Industry and Electricity Power Co Ltd was up 2.73 percent to 30.49 yuan.
Bank and securities companies looked up. Shanghai Pudong Development Bank led the bank industry by an increase of 1.59 percent, or 0.36 yuan, to 22.94 yuan. Bank of Communications edged up 0.36 percent to 8.26 yuan. Haitong Securities Co was up 0.49 percent to close at 16.37 yuan.
Communication and technology companies also gained from an a 400 billion investment plan in 3G network and a 150 billion yuan plan in broadband by the end of next year announced by the Ministry of Industry and Information Technology.
"Optical communication firms will be the largest winner," said analyst Li Zhizhong from Ping'an Securities Co Ltd. "Profits in the 3G industry is limited since 160 billion yuan of the total 400 billion yuan investment was already implemented in 2009. But the 3G network will be improved under the policy."
ZTE, China's second largest phone equipment maker, added 2.92 percent to 42.3 yuan. China Unicom, main provider of 3G services, went up 0.81 percent to 6.26 yuan. Fiberhome Telecommunication Technology Co, a leader in optical fibers, soared 7.49 percent to close at 31.45 yuan.
The benchmark Shanghai Composite Index, comprised of yuan-dominated A shares and hard-currency B shares, grew 0.83 percent to 3,144.5 points. Turnover was 132.1 billion yuan (US$19.35 billion). Gainers outnumbered losers with 718 to 148, and 54 shares remained unchanged.
Shenzhen Composite Index, which tracks the smaller domestic market, edged up 1.43 percent to 1,249.9 points.
China Vanke Co, the nation's largest listed real estate developer, gained 0.54 percent to 9.39 yuan. Poly Real Estate picked up 0.36 percent to 19.60 yuan, slightly paring its 3.1 percent lost yesterday. China Merchants Property Development Co Ltd was unchanged at 22.73 yuan.
Wuhan Iron and Steel Company Ltd, China's second-largest steel mill, gained 0.3 percent to 6.68 yuan. Anhui Hengyuan Coal Industry and Electricity Power Co Ltd was up 2.73 percent to 30.49 yuan.
Bank and securities companies looked up. Shanghai Pudong Development Bank led the bank industry by an increase of 1.59 percent, or 0.36 yuan, to 22.94 yuan. Bank of Communications edged up 0.36 percent to 8.26 yuan. Haitong Securities Co was up 0.49 percent to close at 16.37 yuan.
Communication and technology companies also gained from an a 400 billion investment plan in 3G network and a 150 billion yuan plan in broadband by the end of next year announced by the Ministry of Industry and Information Technology.
"Optical communication firms will be the largest winner," said analyst Li Zhizhong from Ping'an Securities Co Ltd. "Profits in the 3G industry is limited since 160 billion yuan of the total 400 billion yuan investment was already implemented in 2009. But the 3G network will be improved under the policy."
ZTE, China's second largest phone equipment maker, added 2.92 percent to 42.3 yuan. China Unicom, main provider of 3G services, went up 0.81 percent to 6.26 yuan. Fiberhome Telecommunication Technology Co, a leader in optical fibers, soared 7.49 percent to close at 31.45 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.
