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Index closes at 3-month high
By Joyce Pan |
April 14, 2010, Wednesday
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Online Edition
Online Edition
SHANGHAI'S stock market extended its rally today to end at a three-month high as rises in commodity producers outpaced losses in the property sector, which was weighed down by concerns over cooling measures after housing prices surged by a record last month.
The benchmark Shanghai Composite Index rose 0.16 percent, or 4.93 points, to close at 3,166.18 points. Turnover shrank to 137.9 billion yuan (US$20.3 billion) from 184.6 billion yuan.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 0.73 percent to close at 1,247.30 points.
Gold producers led the gainers as the expectation on inflation boosted bullion prices. Zhongjin Gold Corp, the second biggest by market value, soared 8.1 percent to 56.43 yuan. Shandong Gold Mining Co surged 4.6 percent to 79.51 yuan. Zijin Mining Group Co, the country's largest gold producer, jumped 2.9 percent to 8.85 yuan.
Wuhan Iron and Steel Co edged up 0.8 percent to 6.72 yuan after the Ministry of Commerce announced an anti-dumping tax against Russian and US silicon steel, benefiting China's largest provider of steel of this kind. Its main competitor Baoshan Iron & Steel went up 0.7 percent to 7.76 yuan.
Bucking the upward trend, Poly Real Estate Group fell 0.8 percent to 18.79 yuan. Shanghai-based Shimao dipped 0.7 percent to 14.69 yuan.
The benchmark Shanghai Composite Index rose 0.16 percent, or 4.93 points, to close at 3,166.18 points. Turnover shrank to 137.9 billion yuan (US$20.3 billion) from 184.6 billion yuan.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 0.73 percent to close at 1,247.30 points.
Gold producers led the gainers as the expectation on inflation boosted bullion prices. Zhongjin Gold Corp, the second biggest by market value, soared 8.1 percent to 56.43 yuan. Shandong Gold Mining Co surged 4.6 percent to 79.51 yuan. Zijin Mining Group Co, the country's largest gold producer, jumped 2.9 percent to 8.85 yuan.
Wuhan Iron and Steel Co edged up 0.8 percent to 6.72 yuan after the Ministry of Commerce announced an anti-dumping tax against Russian and US silicon steel, benefiting China's largest provider of steel of this kind. Its main competitor Baoshan Iron & Steel went up 0.7 percent to 7.76 yuan.
Bucking the upward trend, Poly Real Estate Group fell 0.8 percent to 18.79 yuan. Shanghai-based Shimao dipped 0.7 percent to 14.69 yuan.
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