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Index rises ahead of bank's IPO
By Feng Jianmin |
July 14, 2010, Wednesday
|
Online Edition
Online Edition
SHANGHAI stocks rose today preceding Agricultural Bank of China's debut.
The benchmark Shanghai Composite Index rose 0.82 percent, or 20.15 points, to close at 2470.44. Turnover was 70.2 billion yuan (US$10.4 billion).
The Shenzhen Composite Index, which covers the smaller mainland exchange, went up 0.47 percent to 984.33 points.
Agricultural Bank of China will start trading in Shanghai tomorrow, and is expected to raise about 60 billion yuan as part of the world's largest IPO.
Banks went up. Bank of China rose 0.57 percent to 3.53 yuan. China Construction Bank gained 1.05 percent to 4.81 yuan. China Merchants Bank added 0.73 percent to 13.84 yuan.
Shanghai-related stocks led the gainers. Shanghai Shentong Metro Co advanced 4.88 percent to 11.60 yuan. Shanghai Datun Energy Resources Co was 3.47 percent higher at 17.58 yuan. Shanghai Jinjiang International Investment Holdings Co rose 3.31 percent to 10.60 yuan.
Miners gained on higher metal prices in the London market and a healthy export outlook. Jiangxi Copper, China's biggest producer of the metal, climbed 3.14 percent to 25.28 yuan. Aluminum Corp of China Ltd., the listed unit of nation's biggest maker of the lightweight metal, rose 1.79 percent to 9.10 yuan.
Data on June's macro-economy will be released tomorrow.
The benchmark Shanghai Composite Index rose 0.82 percent, or 20.15 points, to close at 2470.44. Turnover was 70.2 billion yuan (US$10.4 billion).
The Shenzhen Composite Index, which covers the smaller mainland exchange, went up 0.47 percent to 984.33 points.
Agricultural Bank of China will start trading in Shanghai tomorrow, and is expected to raise about 60 billion yuan as part of the world's largest IPO.
Banks went up. Bank of China rose 0.57 percent to 3.53 yuan. China Construction Bank gained 1.05 percent to 4.81 yuan. China Merchants Bank added 0.73 percent to 13.84 yuan.
Shanghai-related stocks led the gainers. Shanghai Shentong Metro Co advanced 4.88 percent to 11.60 yuan. Shanghai Datun Energy Resources Co was 3.47 percent higher at 17.58 yuan. Shanghai Jinjiang International Investment Holdings Co rose 3.31 percent to 10.60 yuan.
Miners gained on higher metal prices in the London market and a healthy export outlook. Jiangxi Copper, China's biggest producer of the metal, climbed 3.14 percent to 25.28 yuan. Aluminum Corp of China Ltd., the listed unit of nation's biggest maker of the lightweight metal, rose 1.79 percent to 9.10 yuan.
Data on June's macro-economy will be released tomorrow.
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