Index finishes at 1-week high
By Feng Jianmin and Ding Yining |
August 18, 2010, Wednesday
|
Print Edition
Print Edition
SHANGHAI'S key stock index yesterday rose for a third day to a one-week closing high after property and media-related shares rose although metal producers declined.
The Shanghai Composite Index rose 0.38 percent, or 10.18 points, to close at 2,671.89. Turnover totaled 128.6 billion yuan (US$18.8 billion).
Communication and media-related shares led the gainers after the central government pledged to boost the sector to take advantage of China's economic development. Guangdong China Sunshine Media Co jumped 10 percent to 12.67 yuan. Huawen Media Investment Corp surged 5.79 percent to 6.58 yuan and Northern United Publishing & Media Group Co climbed 3.50 percent to 12.12 yuan.
Property developers gained. Poly Real Estate Co advanced 2.47 percent to 13.29 yuan, and Gemdale Corp edged up 0.86 percent to 7.06 yuan.
Metal producers were weak. Jiangxi Copper Co fell 0.79 percent to 29.01 yuan. Yunnan Copper Industry Co dipped 0.05 percent to 20.80 yuan and Ningbo Fubang Jingye Group Co lost 1.26 percent to 8.60 yuan.
Steel mills were mixed after some steel producers raised prices for September delivery on growing demand.
Lingyuan Iron and Steel Co added 2.09 percent to 7.81 yuan. Wuhan Iron and Steel Co edged up 0.21 percent to 4.85 yuan. Angang Steel Co rose 0.70 percent to 8.66 yuan.
Baoshan Iron and Steel Co dipped 0.15 percent to 6.51 yuan after it kept prices steady on a cautious outlook.
The Shanghai Composite Index rose 0.38 percent, or 10.18 points, to close at 2,671.89. Turnover totaled 128.6 billion yuan (US$18.8 billion).
Communication and media-related shares led the gainers after the central government pledged to boost the sector to take advantage of China's economic development. Guangdong China Sunshine Media Co jumped 10 percent to 12.67 yuan. Huawen Media Investment Corp surged 5.79 percent to 6.58 yuan and Northern United Publishing & Media Group Co climbed 3.50 percent to 12.12 yuan.
Property developers gained. Poly Real Estate Co advanced 2.47 percent to 13.29 yuan, and Gemdale Corp edged up 0.86 percent to 7.06 yuan.
Metal producers were weak. Jiangxi Copper Co fell 0.79 percent to 29.01 yuan. Yunnan Copper Industry Co dipped 0.05 percent to 20.80 yuan and Ningbo Fubang Jingye Group Co lost 1.26 percent to 8.60 yuan.
Steel mills were mixed after some steel producers raised prices for September delivery on growing demand.
Lingyuan Iron and Steel Co added 2.09 percent to 7.81 yuan. Wuhan Iron and Steel Co edged up 0.21 percent to 4.85 yuan. Angang Steel Co rose 0.70 percent to 8.66 yuan.
Baoshan Iron and Steel Co dipped 0.15 percent to 6.51 yuan after it kept prices steady on a cautious outlook.
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