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Market almost unchanged in morning
By Feng Jianmin |
October 13, 2010, Wednesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index closed almost unchanged in the morning session, as weak performance of metal and coal producers overshadowed gains made by property developers and cement firms.
The benchmark Shanghai Composite Index dipped 0.04 percent, or 1.13 points, to close at 2,840.28 points. Turnover rose to 128.6 billion yuan (US$19.3 billion) from yesterday morning's 104 billion yuan.
The Shenzhen Component Index, which tracks the smaller mainland exchange, grew 0.68 percent to 12,457.42.
Cement firms gained after the central government encouraged supply of the construction material to the countryside. Tangshan Jidong Cement Co climbed 6.29 percent to 24.50 yuan. Anhui Conch Cement Co advanced 4.2 percent to 25.83 yuan. Xinjiang West Construction Co rose 4.45 percent to 23.01 yuan.
Property developers led the gainers. China Vanke, China's largest developer, surged 6.36 percent to 9.36 yuan. Poly Real Estate Co jumped 7.04 percent to 14.60 yuan. China Merchants Real Estate Development Co grew 6.41 percent to 19.43 yuan.
Coal producers retreated from previous gains. Datong Coal Industry Co lost 2 percent to 20.82 yuan. China Shenhua Energy Co shed 2.35 percent to 27.41 yuan. Gansu Jingyuan Coal and Electric Energy Co went down 2.37 percent to 18.16 yuan.
The benchmark Shanghai Composite Index dipped 0.04 percent, or 1.13 points, to close at 2,840.28 points. Turnover rose to 128.6 billion yuan (US$19.3 billion) from yesterday morning's 104 billion yuan.
The Shenzhen Component Index, which tracks the smaller mainland exchange, grew 0.68 percent to 12,457.42.
Cement firms gained after the central government encouraged supply of the construction material to the countryside. Tangshan Jidong Cement Co climbed 6.29 percent to 24.50 yuan. Anhui Conch Cement Co advanced 4.2 percent to 25.83 yuan. Xinjiang West Construction Co rose 4.45 percent to 23.01 yuan.
Property developers led the gainers. China Vanke, China's largest developer, surged 6.36 percent to 9.36 yuan. Poly Real Estate Co jumped 7.04 percent to 14.60 yuan. China Merchants Real Estate Development Co grew 6.41 percent to 19.43 yuan.
Coal producers retreated from previous gains. Datong Coal Industry Co lost 2 percent to 20.82 yuan. China Shenhua Energy Co shed 2.35 percent to 27.41 yuan. Gansu Jingyuan Coal and Electric Energy Co went down 2.37 percent to 18.16 yuan.
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