Key index rises on solid trade figures
By Feng Jianmin and Ding Yining |
October 14, 2010, Thursday
|
Print Edition
Print Edition
SHANGHAI'S key stock index yesterday edged up for the fifth day, driven by strong export data in September.
The Shanghai Composite Index added 0.7 percent, or 19.95 points, to 2,861.22, a fresh closing high since May 5. Turnover stood at 228.4 billion yuan (US$34.2 billion), slightly higher than Tuesday's 211.8 billion yuan.
The volume of exports rose 25.1 percent from a year earlier to US$145 billion in September while imports climbed to US$128.1 billion, up 24.1 percent from last year, the customs bureau said on its website yesterday. The trade figures for September broke the historical high that was set in July.
Cement firms closed higher after the Ministry of Housing and Urban-Rural Development said it will start a trial program to promote sales of construction materials to the countryside.
Anhui Conch Cement Co gained 4 percent to 25.78 yuan. Gansu Qilianshan Cement Group Co added 3.4 percent to 18.97 yuan.
Property developers were among the gainers.
Poly Real Estate Co, the country's second-largest listed property developer, jumped by the daily limit of 10 percent to end at 15 yuan. Gemdale Corp, the fourth-largest, climbed 7.3 percent to close at 7.33 yuan.
The Shanghai Composite Index added 0.7 percent, or 19.95 points, to 2,861.22, a fresh closing high since May 5. Turnover stood at 228.4 billion yuan (US$34.2 billion), slightly higher than Tuesday's 211.8 billion yuan.
The volume of exports rose 25.1 percent from a year earlier to US$145 billion in September while imports climbed to US$128.1 billion, up 24.1 percent from last year, the customs bureau said on its website yesterday. The trade figures for September broke the historical high that was set in July.
Cement firms closed higher after the Ministry of Housing and Urban-Rural Development said it will start a trial program to promote sales of construction materials to the countryside.
Anhui Conch Cement Co gained 4 percent to 25.78 yuan. Gansu Qilianshan Cement Group Co added 3.4 percent to 18.97 yuan.
Property developers were among the gainers.
Poly Real Estate Co, the country's second-largest listed property developer, jumped by the daily limit of 10 percent to end at 15 yuan. Gemdale Corp, the fourth-largest, climbed 7.3 percent to close at 7.33 yuan.
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