Related News
IPO delay gives a lift to Shanghai stocks
By Ye Zhen |
May 29, 2013, Wednesday
|
Online Edition
Online Edition
SHANGHAI stocks gained four days in a row this morning on reports that China's securities regulator may postpone new IPOs to August.
The benchmark Shanghai Composite Index added 8.20 points, or 0.35 percent, to 2,329.52. Turnover was 63.8 billion yuan (US$10.5 billion) by the noon break.
The China Securities Regulatory Commission may resume IPO approvals in the second half of August, The 21st Century Business Herald reported today, citing unnamed sources.
The timing is later than the widely expected June. The commission has suspended IPO approvals since December and ordered companies applying for IPOs on domestic bourses to double-check their financial status in a bid to eliminate frauds.
Heavy industries led the market up. Jiangxi Hongdu Aviation Industry Co gained 5 percent to 21.01 yuan. China Spacesat Co added 1.6 percent to 19.02 yuan.
SAIC Motor Corp Ltd rose 2.8 percent to 16.02 yuan. Guangzhou Automobile Group Co surged by the daily limit of 10 percent to 10.13 yuan.
Brokerages declined. Founder Securities lost 1.5 percent to 7.75 yuan. CITIC Securities, China's largest broker shed 0.5 percent to 13.19 yuan.
The benchmark Shanghai Composite Index added 8.20 points, or 0.35 percent, to 2,329.52. Turnover was 63.8 billion yuan (US$10.5 billion) by the noon break.
The China Securities Regulatory Commission may resume IPO approvals in the second half of August, The 21st Century Business Herald reported today, citing unnamed sources.
The timing is later than the widely expected June. The commission has suspended IPO approvals since December and ordered companies applying for IPOs on domestic bourses to double-check their financial status in a bid to eliminate frauds.
Heavy industries led the market up. Jiangxi Hongdu Aviation Industry Co gained 5 percent to 21.01 yuan. China Spacesat Co added 1.6 percent to 19.02 yuan.
SAIC Motor Corp Ltd rose 2.8 percent to 16.02 yuan. Guangzhou Automobile Group Co surged by the daily limit of 10 percent to 10.13 yuan.
Brokerages declined. Founder Securities lost 1.5 percent to 7.75 yuan. CITIC Securities, China's largest broker shed 0.5 percent to 13.19 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.
