Related News
Insurance and copper add steel to market
By Pan Xiaoyi |
March 17, 2009, Tuesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index rose today, led by insurers and copper producers, after the price of the metal surged.
The Shanghai Composite Index added 3.02 percent, or 65.03 points, to 2,218.33 points.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 3.89 percent, or 27.33 points, to 729.69 points.
Jiangxi Copper Co and Yunnan Copper Industry Co jumped by the 10 percent daily cap to 18.7 yuan and 15.26 yuan.
Copper futures for May delivery surged 5 percent to US$1.747 a pound on the Comex division of the New York Mercantile Exchange yesterday after February imports of the metal jumped to a record in China, the world's biggest buyer.
Imports of copper and alloys surged 55 percent from January, the Beijing-based customs office said yesterday.
China Cosco Holdings Co, the world's largest operator of dry-bulk ships, gained 3.56 percent to 10.75 yuan. China Shipping Development Co, the nation's biggest oil carrier, added 3.14 percent to 10.5 yuan.
The Baltic Dry Index, a measure of shipping costs for commodities, fell to its lowest in almost two weeks. The index retreated 64 points, or 3 percent, to 2,058 points, according to the Baltic Exchange yesterday, the lowest since March 3.
Elsewhere, China Life, the nation's biggest insurer, advanced 2.53 percent 21.92 yuan after posting higher premium income.
Industrial Bank Co inched up 1.37 percent to 21.45 yuan after saying it plans to raise as much as 50 billion yuan (US$7.3 billion) selling bonds to boost lending.
China Eastern Airlines Corp, the nation's third-largest carrier by fleet size, was reportedly to have received an 11 billion yuan (US$1.6 billion) credit line from China Construction Bank Corp. The stock increased 3.06 percent to 4.71 yuan.
The Shanghai Composite Index added 3.02 percent, or 65.03 points, to 2,218.33 points.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 3.89 percent, or 27.33 points, to 729.69 points.
Jiangxi Copper Co and Yunnan Copper Industry Co jumped by the 10 percent daily cap to 18.7 yuan and 15.26 yuan.
Copper futures for May delivery surged 5 percent to US$1.747 a pound on the Comex division of the New York Mercantile Exchange yesterday after February imports of the metal jumped to a record in China, the world's biggest buyer.
Imports of copper and alloys surged 55 percent from January, the Beijing-based customs office said yesterday.
China Cosco Holdings Co, the world's largest operator of dry-bulk ships, gained 3.56 percent to 10.75 yuan. China Shipping Development Co, the nation's biggest oil carrier, added 3.14 percent to 10.5 yuan.
The Baltic Dry Index, a measure of shipping costs for commodities, fell to its lowest in almost two weeks. The index retreated 64 points, or 3 percent, to 2,058 points, according to the Baltic Exchange yesterday, the lowest since March 3.
Elsewhere, China Life, the nation's biggest insurer, advanced 2.53 percent 21.92 yuan after posting higher premium income.
Industrial Bank Co inched up 1.37 percent to 21.45 yuan after saying it plans to raise as much as 50 billion yuan (US$7.3 billion) selling bonds to boost lending.
China Eastern Airlines Corp, the nation's third-largest carrier by fleet size, was reportedly to have received an 11 billion yuan (US$1.6 billion) credit line from China Construction Bank Corp. The stock increased 3.06 percent to 4.71 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.
