Likely fiscal measures lift shares
Print Edition
SHANGHAI shares rose yesterday as investor sentiment was buoyed by a possible fiscal stimulus ahead of the release of China’s gross domestic product data for the second quarter tomorrow.
The Shanghai Composite Index added 0.37 percent to close at 3,060.69 points, with financial and mining shares boosting the gauge to a three-month high.
The Shanghai gauge has risen 7.7 percent since its rebound starting from the end of June, helped by a good performance of state-owned companies.
Blue-chip shares such as brokerages and miners led gains in Shanghai, with Industrial Securities Co adding 4 percent to 8.05 yuan (US$1.20) and Zhongjin Gold Corp, the country’s biggest gold producer, rising 2.52 percent to 15.84 yuan.
The China Business News Research Institute wrote in a report yesterday that if the country’s second-quarter GDP was below market hopes, “it’s highly possible for the central bank to further cut reserve requirement ratio to reboot a cooling economy.”
But it warned: “We have to be aware that the marginal effect from such fiscal stimulus is shrinking, as big companies are unwilling to invest in the current business environment.”
- 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.
