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Index closes steady at 3,114
By Pan Xiaoyi |
November 3, 2009, Tuesday
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Online Edition
Online Edition
SHANGHAI'S key stock index rose more than 1 percent today, as signs of stable bank loans last month boosted optimism for sustained economic growth.
The benchmark Shanghai Composite Index gained 1.22 percent, or 37.58 points, to close at 3,114.23 points. Turnover rose to 170 billion yuan (US$25 billion) from 154.9 billion yuan. Gainers outnumbered losers 802 to 76, and 9 stocks remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 1.72 percent to close at 1,104.31 points.
The official China Securities Journal today reported that China's top four state-owned commercial banks extended about 136 billion yuan in new loans in October, up 23 percent from a month earlier.
Another major official newspaper, the Shanghai Securities News, said new bank lending in China may hit 300 billion to 400 billion yuan in October, in line with market expectations.
Gold miners led the gainers after the bullion price rose on expectation of a weaker US dollar. Shandong Gold Mining Co jumped 2.8 percent to 68.35 yuan. Zhongjin Gold Corp, the second biggest by market value, gained 2.3 percent to 58.3 yuan. Zijin Mining Group Co, the country's largest gold producer, added 1.4 percent to 9.35 yuan.
Metal producers were strong after a measure of six metals traded on the London Metal Exchange, including copper and zinc, added 0.7 percent yesterday.
Aluminum Corporation of China Ltd advanced 1.7 percent to 14.14 yuan. Jiangxi Copper Co gained 1 percent to 39.71 yuan.
Sinolink Securities Co surged 2.5 percent to 23.03 yuan. Everbright Securities Citic Securities Co climbed 1.5 percent to 23.81 yuan. Haitong Securities Co increased 1.9 percent to 14.72 yuan.
The benchmark Shanghai Composite Index gained 1.22 percent, or 37.58 points, to close at 3,114.23 points. Turnover rose to 170 billion yuan (US$25 billion) from 154.9 billion yuan. Gainers outnumbered losers 802 to 76, and 9 stocks remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 1.72 percent to close at 1,104.31 points.
The official China Securities Journal today reported that China's top four state-owned commercial banks extended about 136 billion yuan in new loans in October, up 23 percent from a month earlier.
Another major official newspaper, the Shanghai Securities News, said new bank lending in China may hit 300 billion to 400 billion yuan in October, in line with market expectations.
Gold miners led the gainers after the bullion price rose on expectation of a weaker US dollar. Shandong Gold Mining Co jumped 2.8 percent to 68.35 yuan. Zhongjin Gold Corp, the second biggest by market value, gained 2.3 percent to 58.3 yuan. Zijin Mining Group Co, the country's largest gold producer, added 1.4 percent to 9.35 yuan.
Metal producers were strong after a measure of six metals traded on the London Metal Exchange, including copper and zinc, added 0.7 percent yesterday.
Aluminum Corporation of China Ltd advanced 1.7 percent to 14.14 yuan. Jiangxi Copper Co gained 1 percent to 39.71 yuan.
Sinolink Securities Co surged 2.5 percent to 23.03 yuan. Everbright Securities Citic Securities Co climbed 1.5 percent to 23.81 yuan. Haitong Securities Co increased 1.9 percent to 14.72 yuan.
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