Related News
Key index ends nearly 2% higher
By Ding Yining |
March 11, 2009, Wednesday
|
Print Edition
Print Edition
SHANGHAI'S key stock index rebounded and finished nearly 2 percent higher yesterday, led by financial-related shares which surged on speculation over possible interest rate cuts after China posted a lower CPI level.
The Shanghai Composite Index added 1.88 percent, or 39.82 points, to close at 2,158.57 points. Turnover, however, shrank to 69.2 billion yuan (US$10.1 billion) from Monday's 103.7 billion yuan. Gainers outnumbered losers 817 to 59 and 32 shares were unchanged.
China's Consumer Price Index fell 1.6 percent in February from a year ago, the first drop in six years while the Producer Price Index shrank 4.5 percent, the most in a decade, the National Bureau of Statistics announced yesterday.
"The lower turnover, however, suggested that the market is still unstable and we predict the index to fluctuate around 2,100 points in the future," said Shenyin & Wanguo Securities.
Ping An Insurance (Group) Co, China's second-largest insurer, gained 4.83 percent to 34.52 yuan while China Pacific Insurance (Group) Co rose 3.60 percent to 14.10 yuan. Haitong Securities rallied 5.15 percent to 12.46 yuan and Sinolink Securities rose 2.43 percent to 28.70 yuan.
Banks were mixed as lower rates mean less profit for them. Industrial & Commercial Bank of China, the nation's biggest lender, added 0.54 percent to 3.72 yuan. China Merchants Bank Co shed 0.67 percent to 14.90 yuan. China Construction Bank rose 0.24 percent to 4.11 yuan.
The Shanghai Composite Index added 1.88 percent, or 39.82 points, to close at 2,158.57 points. Turnover, however, shrank to 69.2 billion yuan (US$10.1 billion) from Monday's 103.7 billion yuan. Gainers outnumbered losers 817 to 59 and 32 shares were unchanged.
China's Consumer Price Index fell 1.6 percent in February from a year ago, the first drop in six years while the Producer Price Index shrank 4.5 percent, the most in a decade, the National Bureau of Statistics announced yesterday.
"The lower turnover, however, suggested that the market is still unstable and we predict the index to fluctuate around 2,100 points in the future," said Shenyin & Wanguo Securities.
Ping An Insurance (Group) Co, China's second-largest insurer, gained 4.83 percent to 34.52 yuan while China Pacific Insurance (Group) Co rose 3.60 percent to 14.10 yuan. Haitong Securities rallied 5.15 percent to 12.46 yuan and Sinolink Securities rose 2.43 percent to 28.70 yuan.
Banks were mixed as lower rates mean less profit for them. Industrial & Commercial Bank of China, the nation's biggest lender, added 0.54 percent to 3.72 yuan. China Merchants Bank Co shed 0.67 percent to 14.90 yuan. China Construction Bank rose 0.24 percent to 4.11 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
