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Market edges up thanks to ship builders
By Lydia Chen |
March 9, 2011, Wednesday
|
Online Edition
Online Edition
SHANGHAI stock market extended gains for a fourth day today on ride of ship manufacturers, while easing concerns for monetary tightening boosted investors' confidence in banks.
The Shanghai Composite Index edged up 0.07 percent to stand at 3,002.15. Turnover slipped a little to 165.32 billion yuan (US$25.16 billion) from yesterday's 168.66 billion.
All ship builders enjoyed the cross-sector rally today with China CSSC Holdings Ltd leading the rise with a gain of 6.03 percent to 84.39 yuan.
Rotations between sectors now reign in the market and help lift the index higher every day on back of supportive policies from the government.
Shipping manufacturing is one of the key industries to be developed in China's massive economic plan by 2015.
Huang Dongsheng, an analyst with Guodu Securities Co, suggested clients to pay attention on coal shares and non-ferrous metals as future prices of these commodities are still rising amid extending upheaval in Middle East.
The Shanghai Composite Index edged up 0.07 percent to stand at 3,002.15. Turnover slipped a little to 165.32 billion yuan (US$25.16 billion) from yesterday's 168.66 billion.
All ship builders enjoyed the cross-sector rally today with China CSSC Holdings Ltd leading the rise with a gain of 6.03 percent to 84.39 yuan.
Rotations between sectors now reign in the market and help lift the index higher every day on back of supportive policies from the government.
Shipping manufacturing is one of the key industries to be developed in China's massive economic plan by 2015.
Huang Dongsheng, an analyst with Guodu Securities Co, suggested clients to pay attention on coal shares and non-ferrous metals as future prices of these commodities are still rising amid extending upheaval in Middle East.
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