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Index rises the most in a week
By Ding Yining |
September 14, 2010, Tuesday
|
Print Edition
Print Edition
SHANGHAI'S stock market yesterday rose the most in a week, boosted by blue-chip energy companies and investors were also less concerned about a rise in interest rates.
The Shanghai Composite Index rose 0.94 percent, or 25.11 points, to close at 2,688.32. Turnover was 140.8 billion yuan (US$21 billion).
"A rebound at the beginning of the week is normal but investors have to be cautious about possible shift of macro-economic policies and the floating of new shares this week," said Kang Hongtao, a Guoyuan Securities analyst.
China Petroleum and Chemical Corp, Asia's largest oil refiner, has started building a liquefied natural gas terminal in Shandong Province. Its shares jumped 1.35 percent to 8.25 yuan.
Banks were mixed after the central bank said over the weekend lenders extended 545.2 billion yuan of new local-currency loans last month compared with 532.8 billion yuan in July. That was the first acceleration in four months. Bank of China gained 0.3 percent to 3.35 yuan. Shanghai Pudong Development Bank dipped 0.15 percent to 13.49 yuan.
Consumer shares rose on hopes spending over the week-long National Day holiday from October 1 will lift their income. Beijing Wangfujing Department Store surged 4.78 percent to 48.93 yuan. Beijing Capital Tourism Co rose 4.06 percent to 25.87 yuan.
The Shanghai Composite Index rose 0.94 percent, or 25.11 points, to close at 2,688.32. Turnover was 140.8 billion yuan (US$21 billion).
"A rebound at the beginning of the week is normal but investors have to be cautious about possible shift of macro-economic policies and the floating of new shares this week," said Kang Hongtao, a Guoyuan Securities analyst.
China Petroleum and Chemical Corp, Asia's largest oil refiner, has started building a liquefied natural gas terminal in Shandong Province. Its shares jumped 1.35 percent to 8.25 yuan.
Banks were mixed after the central bank said over the weekend lenders extended 545.2 billion yuan of new local-currency loans last month compared with 532.8 billion yuan in July. That was the first acceleration in four months. Bank of China gained 0.3 percent to 3.35 yuan. Shanghai Pudong Development Bank dipped 0.15 percent to 13.49 yuan.
Consumer shares rose on hopes spending over the week-long National Day holiday from October 1 will lift their income. Beijing Wangfujing Department Store surged 4.78 percent to 48.93 yuan. Beijing Capital Tourism Co rose 4.06 percent to 25.87 yuan.
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