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Japan surge lifts Shanghai market
By Feng Jianmin |
March 16, 2011, Wednesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index was slightly up in the morning session following a robust performance of Japan's stock market. Metal and coal producers led the gainers.
The Shanghai Composite Index edged up 0.4 percent to 2,907.59. Turnover fell to 84.4 billion yuan (US$12.8 billion) from yesterday morning's 110 billion yuan.
Japan's benchmark Nikkei 225 rose 4.4 percent by noon break to 8,991 after Bank of Japan poured another 3.5 trillion yen (US$43.3 billion) today to buy assets.
Metal producers picked up after copper and aluminium prices rose on London market as panic eased. Jiangxi Copper Co, China's largest producer of the metal rose 0.7 percent to 39.24 yuan. Aluminium Corp of China jumped 5 percent to 10.96 yuan.
Coal miners rebounded on speculation that demand for coal will boom as an alternative energy to oil and nuclear power. China Shenhua Energy Co, China's largest coal producer, rose 3 percent to 27.50 yuan. China Coal Energy Co went up 1.7 percent to 11.05 yuan.
The Shanghai Composite Index edged up 0.4 percent to 2,907.59. Turnover fell to 84.4 billion yuan (US$12.8 billion) from yesterday morning's 110 billion yuan.
Japan's benchmark Nikkei 225 rose 4.4 percent by noon break to 8,991 after Bank of Japan poured another 3.5 trillion yen (US$43.3 billion) today to buy assets.
Metal producers picked up after copper and aluminium prices rose on London market as panic eased. Jiangxi Copper Co, China's largest producer of the metal rose 0.7 percent to 39.24 yuan. Aluminium Corp of China jumped 5 percent to 10.96 yuan.
Coal miners rebounded on speculation that demand for coal will boom as an alternative energy to oil and nuclear power. China Shenhua Energy Co, China's largest coal producer, rose 3 percent to 27.50 yuan. China Coal Energy Co went up 1.7 percent to 11.05 yuan.
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