Related News
Index rises after government intervention
By Feng Jianmin |
July 7, 2010, Wednesday
|
Online Edition
Online Edition
SHANGHAI stocks rose today, led by brokerages during the late afternoon after the government stepped in to invest in A shares.
The benchmark Shanghai Composite Index went up 0.5 percent, or 11.7 points, to close at 2421.12. Turnover stood at 52.5 billion yuan (US$7.7 billion), slightly lower than yesterday's 55.6 billion yuan.
The Securities Times reported that China's social insurance fund has invested 2 billion yuan in yuan-denominated A shares, boosting investors' confidence that the bottom of the market has been reached.
GF Securities rose 2.66 percent to 30.54 yuan. CITIC Securities went up 1.12 percent to 11.72 yuan. Northeast Securities Co gained 2.84 percent to 24.63 yuan.
Banks and property developers were flat after the 21st Century Herald reported that new loans in June totaled 560 billion yuan. Listed banks issued only 60 to 70 billion yuan so as to meet central government's measures to control liquidity, the newspaper said.
Shanghai Pudong Development Bank lost 0.51 percent to 13.76 yuan. Industrial and Commercial Bank of China edged down 0.48 percent to 4.12 yuan. Bank of China was unchanged at 3.48 yuan.
China Vanke was 0.14 percent lower to 7.05 yuan. Gemdale Real Estate Corp dropped 1 percent to 6.30 yuan. Shanghai Shimao Co fell 1.68 percent to 12.84 yuan.
Vehicle producers were mixed after Chongqing Changan Automobile Co and SAIC Motor Corporation reported respectively that their first-half sales increased 47.6 percent and 45 percent from the previous year. Chongqing Changan Automobile rose 0.56 percent to 8.93 yuan. SAIC rose 1.13 percent to 12.58 yuan. Tianjin FAW Xiali Automobile Co grew 0.6 percent to 8.34 yuan.
Tibet and Xinjiang-related stocks were among the winners after Premier Wen Jiabao announced central government plans to develop west China in the next 10 years. Measures included reducing tax on income of corporations in certain industries and levying a resource tax on coal, oil, and gas.
Tibet Urban Development and Investment Co climbed 3.38 percent to 8.88 yuan. Tibet Rhodiola Pharmaceutical Holding Co grew 2.76 percent to 10.79 yuan. Xinjiang West-Construction Co jumped by 10 percent daily limit to 19.09 yuan.
The benchmark Shanghai Composite Index went up 0.5 percent, or 11.7 points, to close at 2421.12. Turnover stood at 52.5 billion yuan (US$7.7 billion), slightly lower than yesterday's 55.6 billion yuan.
The Securities Times reported that China's social insurance fund has invested 2 billion yuan in yuan-denominated A shares, boosting investors' confidence that the bottom of the market has been reached.
GF Securities rose 2.66 percent to 30.54 yuan. CITIC Securities went up 1.12 percent to 11.72 yuan. Northeast Securities Co gained 2.84 percent to 24.63 yuan.
Banks and property developers were flat after the 21st Century Herald reported that new loans in June totaled 560 billion yuan. Listed banks issued only 60 to 70 billion yuan so as to meet central government's measures to control liquidity, the newspaper said.
Shanghai Pudong Development Bank lost 0.51 percent to 13.76 yuan. Industrial and Commercial Bank of China edged down 0.48 percent to 4.12 yuan. Bank of China was unchanged at 3.48 yuan.
China Vanke was 0.14 percent lower to 7.05 yuan. Gemdale Real Estate Corp dropped 1 percent to 6.30 yuan. Shanghai Shimao Co fell 1.68 percent to 12.84 yuan.
Vehicle producers were mixed after Chongqing Changan Automobile Co and SAIC Motor Corporation reported respectively that their first-half sales increased 47.6 percent and 45 percent from the previous year. Chongqing Changan Automobile rose 0.56 percent to 8.93 yuan. SAIC rose 1.13 percent to 12.58 yuan. Tianjin FAW Xiali Automobile Co grew 0.6 percent to 8.34 yuan.
Tibet and Xinjiang-related stocks were among the winners after Premier Wen Jiabao announced central government plans to develop west China in the next 10 years. Measures included reducing tax on income of corporations in certain industries and levying a resource tax on coal, oil, and gas.
Tibet Urban Development and Investment Co climbed 3.38 percent to 8.88 yuan. Tibet Rhodiola Pharmaceutical Holding Co grew 2.76 percent to 10.79 yuan. Xinjiang West-Construction Co jumped by 10 percent daily limit to 19.09 yuan.
- 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.
