Related News
Index rebounds to 2,298 points, biggest jump since Oct 2009
By Hu Xiaocen |
January 17, 2012, Tuesday
|
Online Edition
Online Edition
Shanghai stocks snapped a four-day losing streak today with a big rebound on speculations that the government will ease monetary policies and local pension funds will be allowed into the stock market.
The Shanghai Composite Index jumped 4.18 percent to 2,298.38 points, the biggest jump since October 2009. Turnover was 77.4 billion yuan (US$12.2 billion). More than a hundred shares reached their 10 percent daily price limits. All sectors reported gains.
The National Statistics Bureau posted an 8.9 percent increase in gross domestic product in the fourth quarter of 2011, beating the 8.7 percent estimate in a Bloomberg survey. Investors speculate that the central bank will cut the bank reserve requirement ratio soon to inject more liquidity into the economy.
Guo Shuqing, chairman of the China Securities Regulatory Committee, and Dai Xianglong, head of the National Council for Social Security Fund, recently reiterated the government measures to channel pension funds to the stock market to boost investor confidence.
These measures are seen as a major breakthrough in government policy, reported China Securities Journal today. A south China province obtained approval to entrust its 100-billion-yuan pension funds to NCSSF to invest in equities and bonds starting from the first quarter of 2012. The size of NCSSF assets is currently put at 800 billion yuan.
Brokers jumped 6.8 percent. Industrial Securities surged 8.33 percent to close at 10.53 yuan. CITIC Securities added 6.92 percent to 10.51 yuan. Haitong Securities rose 6.68 percent to 8.15 yuan.
It's not the right time for Shanghai Stock Exchange to launch its international board, Han Zheng said at a press conference yesterday, easing investors' worries that the launch of the new international board might drag the market down.
The Shanghai Composite Index jumped 4.18 percent to 2,298.38 points, the biggest jump since October 2009. Turnover was 77.4 billion yuan (US$12.2 billion). More than a hundred shares reached their 10 percent daily price limits. All sectors reported gains.
The National Statistics Bureau posted an 8.9 percent increase in gross domestic product in the fourth quarter of 2011, beating the 8.7 percent estimate in a Bloomberg survey. Investors speculate that the central bank will cut the bank reserve requirement ratio soon to inject more liquidity into the economy.
Guo Shuqing, chairman of the China Securities Regulatory Committee, and Dai Xianglong, head of the National Council for Social Security Fund, recently reiterated the government measures to channel pension funds to the stock market to boost investor confidence.
These measures are seen as a major breakthrough in government policy, reported China Securities Journal today. A south China province obtained approval to entrust its 100-billion-yuan pension funds to NCSSF to invest in equities and bonds starting from the first quarter of 2012. The size of NCSSF assets is currently put at 800 billion yuan.
Brokers jumped 6.8 percent. Industrial Securities surged 8.33 percent to close at 10.53 yuan. CITIC Securities added 6.92 percent to 10.51 yuan. Haitong Securities rose 6.68 percent to 8.15 yuan.
It's not the right time for Shanghai Stock Exchange to launch its international board, Han Zheng said at a press conference yesterday, easing investors' worries that the launch of the new international board might drag the market down.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
