Key stock index ends higher for 3rd day
By Ding Yining |
February 12, 2010, Friday
|
Print Edition
Print Edition
SHANGHAI'S stock market closed higher for the third day, after a smaller consumer price increase eased inflation concerns but trading still remained lukewarm ahead of the Lunar New Year holiday.
The Shanghai Composite Index edged up 0.1 percent, or 3 points, to close at 2,985.50. Turnover totaled 64.9 billion yuan (US$9.5 billion) as investors stayed on the sidelines ahead of the New Year holiday which falls on Sunday.
China's consumer prices rose for the third month in January by 1.5 percent from a year ago, the National Bureau of Statistics said yesterday. But the figure was lower than a previous estimate of 1.8 percent, and was a fall from December's 1.9 percent.
"The lower-than-expected CPI figure will delay the central bank from further tightening its monetary policy in the near future," the Bank of Communications wrote.
Domestic banks lent 1.39 trillion yuan in January in anticipation of tighter monetary policies, the People's Bank of China said on its Website yesterday. The amount lent was more than the total granted in the previous quarter but was a drop from the same month in 2009.
Shanghai Pudong Development Bank dipped 0.20 percent to 19.64 yuan, China Merchants Bank edged up 0.19 percent to 15.56 yuan and China Construction Bank increased 0.54 percent to finish at 5.61 yuan.
The Shanghai Composite Index edged up 0.1 percent, or 3 points, to close at 2,985.50. Turnover totaled 64.9 billion yuan (US$9.5 billion) as investors stayed on the sidelines ahead of the New Year holiday which falls on Sunday.
China's consumer prices rose for the third month in January by 1.5 percent from a year ago, the National Bureau of Statistics said yesterday. But the figure was lower than a previous estimate of 1.8 percent, and was a fall from December's 1.9 percent.
"The lower-than-expected CPI figure will delay the central bank from further tightening its monetary policy in the near future," the Bank of Communications wrote.
Domestic banks lent 1.39 trillion yuan in January in anticipation of tighter monetary policies, the People's Bank of China said on its Website yesterday. The amount lent was more than the total granted in the previous quarter but was a drop from the same month in 2009.
Shanghai Pudong Development Bank dipped 0.20 percent to 19.64 yuan, China Merchants Bank edged up 0.19 percent to 15.56 yuan and China Construction Bank increased 0.54 percent to finish at 5.61 yuan.
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