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Index notches biggest spike in 6 weeks
By Joyce Pan |
February 3, 2010, Wednesday
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Online Edition
Online Edition
SHANGHAI'S key stock index today posted the biggest daily gain in six weeks, led by financial shares, on media reports that China's sovereign wealth fund will increase holdings in the country's three biggest state-owned banks.
The benchmark Shanghai Composite Index added 2.36 percent, or 69.12 points, to close at 3,003.84 points. Turnover stood at 119 billion yuan (US$17.5 billion). Gainers outnumbered losers 717 to 168 and 10 shares remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 1.85 percent to close at 1,116.6 points.
Bank of China was up 2.2 percent to 4.17 yuan. China Merchants Bank rose 2.3 percent to 15.99 yuan. China Construction Bank Corp edged up 2.3 percent to 5.73 yuan. Industrial and Commercial Bank of China gained 2.5 percent to 4.92 yuan.
China Pacific Insurance (Group) Co advanced 6.3 percent to 24.08 yuan. Ping An Insurance (Group) Co climbed 5 percent to 49.83 yuan. China Life Insurance Co jumped 3.1 percent to 27.52 yuan.
Shanghai-based Shimao Co rose 1.4 percent to 14.09 yuan. Shanghai Lujiazui Finance & Trade Zone increased 1.5 percent to 22.5 yuan. Poly Real Estate Group was up 2.7 percent to 19.89 yuan.
The benchmark Shanghai Composite Index added 2.36 percent, or 69.12 points, to close at 3,003.84 points. Turnover stood at 119 billion yuan (US$17.5 billion). Gainers outnumbered losers 717 to 168 and 10 shares remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 1.85 percent to close at 1,116.6 points.
Bank of China was up 2.2 percent to 4.17 yuan. China Merchants Bank rose 2.3 percent to 15.99 yuan. China Construction Bank Corp edged up 2.3 percent to 5.73 yuan. Industrial and Commercial Bank of China gained 2.5 percent to 4.92 yuan.
China Pacific Insurance (Group) Co advanced 6.3 percent to 24.08 yuan. Ping An Insurance (Group) Co climbed 5 percent to 49.83 yuan. China Life Insurance Co jumped 3.1 percent to 27.52 yuan.
Shanghai-based Shimao Co rose 1.4 percent to 14.09 yuan. Shanghai Lujiazui Finance & Trade Zone increased 1.5 percent to 22.5 yuan. Poly Real Estate Group was up 2.7 percent to 19.89 yuan.
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