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Index loses over week to close at 3,031
By Ding Yining |
March 5, 2010, Friday
|
Online Edition
Online Edition
SHANGHAI'S market edged up on the last trading day of the week as brokerages boosted the index on the news that futures trading may start in April.
The benchmark Shanghai Composite Index added 0.25 percent, or 7.69 points, to close at 3,031.07 points. Turnover was 105.8 billion yuan (US$15.5 billion). Gainers outnumbered losers 539 to 323, and 64 shares remained unchanged. The gauge has lost 0.68 percent this week.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 0.26 percent to close at 1,161.42 points.
AW Car Co said profit in 2009 rose 50 percent to 1.63 billion yuan and sales increased by 37 percent. Its shares rose 5.21 percent to 23.22 yuan.
China expects its economy to grow 8 percent this year and Premier Wen Jiabao told the National People's Congress in Beijing that this year will be crucial but complicated for economic recovery. He also reiterated the government's target to reduce new loans by 22 percent to 7.5 trillion yuan this year.
Banks showed mixed results. Bank of Communications was down 0.37 percent to 8.12 yuan. China Construction Bank edged up 0.54 percent to 5.62 yuan. Industrial & Commercial Bank of China, the nation's biggest lender, rose 0.41 percent to 4.84 yuan.
Property shares were flat after Premier Wen Jiabao reiterated pledges to crack down on housing speculation using tax and credit policies. China Vanke Co, the biggest listed domestic real estate developer, lost 0.32 percent to 9.36 yuan. Gemdale Corporation lost 1.12 percent to 12.39 yuan.
Brokerages were among the gainers after head of the China Securities Regulatory Commission Shang Fulin told China Securities Journal that index futures may launch in the middle of April. Haitong Securities added 1.62 percent to 16.94 yuan. Everbright Securities advanced 3.92 percent to 27.31 yuan. Changjiang Securities rose 2.44 percent to 17.64 yuan.
Laiwu Steel Co said its output of 2010 may add 6 percent from that in 2009 to 6.31 million tons. Its shares rose 0.69 percent to 11.61 yuan.
The benchmark Shanghai Composite Index added 0.25 percent, or 7.69 points, to close at 3,031.07 points. Turnover was 105.8 billion yuan (US$15.5 billion). Gainers outnumbered losers 539 to 323, and 64 shares remained unchanged. The gauge has lost 0.68 percent this week.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 0.26 percent to close at 1,161.42 points.
AW Car Co said profit in 2009 rose 50 percent to 1.63 billion yuan and sales increased by 37 percent. Its shares rose 5.21 percent to 23.22 yuan.
China expects its economy to grow 8 percent this year and Premier Wen Jiabao told the National People's Congress in Beijing that this year will be crucial but complicated for economic recovery. He also reiterated the government's target to reduce new loans by 22 percent to 7.5 trillion yuan this year.
Banks showed mixed results. Bank of Communications was down 0.37 percent to 8.12 yuan. China Construction Bank edged up 0.54 percent to 5.62 yuan. Industrial & Commercial Bank of China, the nation's biggest lender, rose 0.41 percent to 4.84 yuan.
Property shares were flat after Premier Wen Jiabao reiterated pledges to crack down on housing speculation using tax and credit policies. China Vanke Co, the biggest listed domestic real estate developer, lost 0.32 percent to 9.36 yuan. Gemdale Corporation lost 1.12 percent to 12.39 yuan.
Brokerages were among the gainers after head of the China Securities Regulatory Commission Shang Fulin told China Securities Journal that index futures may launch in the middle of April. Haitong Securities added 1.62 percent to 16.94 yuan. Everbright Securities advanced 3.92 percent to 27.31 yuan. Changjiang Securities rose 2.44 percent to 17.64 yuan.
Laiwu Steel Co said its output of 2010 may add 6 percent from that in 2009 to 6.31 million tons. Its shares rose 0.69 percent to 11.61 yuan.
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