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Improved business climate data lifts market in morning
By Feng Jianmin |
July 8, 2011, Friday
|
Online Edition
Online Edition
SHANGHAI'S key stock index edged up in the morning session after a business index showed that the macro environment and company performances in China are improving in the second quarter.
The benchmark Shanghai Composite Index rose 0.21 percent to 2,800.13 points. Turnover fell to 56.8 billion (US$8.8 billion) yuan from yesterday morning's 75.7 billion yuan.
China's top statistics bureau said today that a national Business Climate Index rose to 135.6 points in the second quarter, 1.8 points higher than the first quarter. Information transmission and software sectors are the fastest growers while the oil refiners, nuclear material processors and transportation firms fell from the previous quarter, according to a report on the bureau's website.
Banks led the gainers after China International Capital Corp said Moody has overstated local government loans in a report released on July 5. Bank of China rose 1 percent to 3.14 yuan. Industrial and Commercial Bank of China grew 0.7 percent to 4.34 yuan.
Car makers dropped from previous gains. SAIC Motor dropped 2 percent to 18.18 yuan. Anhui Jianghuai Automobile Co lost 1 percent to 11 yuan.
The benchmark Shanghai Composite Index rose 0.21 percent to 2,800.13 points. Turnover fell to 56.8 billion (US$8.8 billion) yuan from yesterday morning's 75.7 billion yuan.
China's top statistics bureau said today that a national Business Climate Index rose to 135.6 points in the second quarter, 1.8 points higher than the first quarter. Information transmission and software sectors are the fastest growers while the oil refiners, nuclear material processors and transportation firms fell from the previous quarter, according to a report on the bureau's website.
Banks led the gainers after China International Capital Corp said Moody has overstated local government loans in a report released on July 5. Bank of China rose 1 percent to 3.14 yuan. Industrial and Commercial Bank of China grew 0.7 percent to 4.34 yuan.
Car makers dropped from previous gains. SAIC Motor dropped 2 percent to 18.18 yuan. Anhui Jianghuai Automobile Co lost 1 percent to 11 yuan.
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