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Market bolstered by prospect of futures
By Ding Yining |
December 30, 2009, Wednesday
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Online Edition
Online Edition
SHANGHAI'S market added more than 1 percent today, lifted by brokerages and futures related companies among speculation that permission to trade stock index futures has gained government approval.
The benchmark Shanghai Composite Index rose 1.58 percent, or 50.84 points, to close at 3,262.60 points. Turnover rose to 157.8 billion yuan (US$23 billion) from yesterday's 117 billion yuan. Losers outnumbered gainers 497 to 345, and 70 shares remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, dipped 0.41 percent to close at 1,186.24 points.
PetroChina has won Canadian regulatory approval to buy stakes in two oil-sands projects worth US$1.8 billion. Its shares advanced 1.92 percent to 13.81 yuan.
Brokerages also lifted the market. Haitong Securities rose 1.81 percent to 19.14 yuan. Everbright Securities rose 3.07 percent to 25.15 yuan. Guoyuan Securities jumped 3.21 percent to 21.21 yuan.
China CIFCO Investment Co jumped the daily limit of 10 percent to 40 yuan. Zhejiang Zhongda Group Co also rallied 10 percent to 26.14 yuan.
China Vanke Co, the biggest listed domestic real estate developer, rose 2.87 percent to 10.75 yuan. Gemdale Corporation jumped 3.16 percent to 13.70 yuan. Poly Real Estate Group added 2.53 percent to 22.28 yuan.
Banks were among the gainers among expectations that new loans in December will reach 300 billion yuan, higher than previous estimates. China Merchants Bank surged 4.95 percent to 18.02 yuan. Shanghai Pudong Development Bank advanced 3.34 percent to 21.63 yuan. China Construction Bank added 2.87 percent to close at 6.09 yuan. Bank of Communications rallied 6.62 percent to 9.18 yuan.
Metal producers showed mixed results. Zijin Mining Co edged up 0.84 percent to 9.55 yuan. Shandong Gold Mining Co lowered 0.77 percent to 80.16 yuan. Yunnan Copper Co rose 3.03 percent to 30.22 yuan. Jiangxi Copper was up 1.96 percent to 39.61 yuan.
The benchmark Shanghai Composite Index rose 1.58 percent, or 50.84 points, to close at 3,262.60 points. Turnover rose to 157.8 billion yuan (US$23 billion) from yesterday's 117 billion yuan. Losers outnumbered gainers 497 to 345, and 70 shares remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, dipped 0.41 percent to close at 1,186.24 points.
PetroChina has won Canadian regulatory approval to buy stakes in two oil-sands projects worth US$1.8 billion. Its shares advanced 1.92 percent to 13.81 yuan.
Brokerages also lifted the market. Haitong Securities rose 1.81 percent to 19.14 yuan. Everbright Securities rose 3.07 percent to 25.15 yuan. Guoyuan Securities jumped 3.21 percent to 21.21 yuan.
China CIFCO Investment Co jumped the daily limit of 10 percent to 40 yuan. Zhejiang Zhongda Group Co also rallied 10 percent to 26.14 yuan.
China Vanke Co, the biggest listed domestic real estate developer, rose 2.87 percent to 10.75 yuan. Gemdale Corporation jumped 3.16 percent to 13.70 yuan. Poly Real Estate Group added 2.53 percent to 22.28 yuan.
Banks were among the gainers among expectations that new loans in December will reach 300 billion yuan, higher than previous estimates. China Merchants Bank surged 4.95 percent to 18.02 yuan. Shanghai Pudong Development Bank advanced 3.34 percent to 21.63 yuan. China Construction Bank added 2.87 percent to close at 6.09 yuan. Bank of Communications rallied 6.62 percent to 9.18 yuan.
Metal producers showed mixed results. Zijin Mining Co edged up 0.84 percent to 9.55 yuan. Shandong Gold Mining Co lowered 0.77 percent to 80.16 yuan. Yunnan Copper Co rose 3.03 percent to 30.22 yuan. Jiangxi Copper was up 1.96 percent to 39.61 yuan.
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