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Market inches up in morning
By Joyce Pan |
January 6, 2010, Wednesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index ended slightly higher with strong performance in commodity producers.
The benchmark Shanghai Composite Index gained 0.3 percent, or 9.76 points, to close at 3,291.93 points. Turnover stood at 83.1 billion yuan (US$12.2 billion). Gainers outnumbered losers 573 to 289 while 27 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 0.87 percent to close at 1,215.98 points.
Commodity producers remained strong on rising commodity prices. Jiangxi Copper Co was up 3 percent to 42.89 yuan. Aluminum Corp of China advanced 3.6 percent to 15.44 yuan. Yunnan Chihong Zinc & Germanium Co jumped 4.5 percent to 28.83 yuan.
Miners rose as heavy snow in northern China has significantly boosted demand for coal. China Shenhua Energy Co climbed 2.2 percent to 35.89 yuan. Yanzhou Coal Mining Co jumped 3.9 percent to 25.16 yuan. China Coal Energy Co was up 1.8 percent to 14.22 yuan. Datong Coal Industry rose 3.7 percent to 48.25 yuan.
Aerospace sector outperformed on media reports China's first development base for satellite navigation application was set up in Shanghai on Monday. Hafei Aviation Industry Co surged 9 percent to 23.63 yuan. Xi'an Aircraft International Corp increased 3.6 percent to 15.95 yuan. Shaanxi Aero-space Power Hi-tech Co edged up 1.7 percent to 14.55 yuan.
The benchmark Shanghai Composite Index gained 0.3 percent, or 9.76 points, to close at 3,291.93 points. Turnover stood at 83.1 billion yuan (US$12.2 billion). Gainers outnumbered losers 573 to 289 while 27 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 0.87 percent to close at 1,215.98 points.
Commodity producers remained strong on rising commodity prices. Jiangxi Copper Co was up 3 percent to 42.89 yuan. Aluminum Corp of China advanced 3.6 percent to 15.44 yuan. Yunnan Chihong Zinc & Germanium Co jumped 4.5 percent to 28.83 yuan.
Miners rose as heavy snow in northern China has significantly boosted demand for coal. China Shenhua Energy Co climbed 2.2 percent to 35.89 yuan. Yanzhou Coal Mining Co jumped 3.9 percent to 25.16 yuan. China Coal Energy Co was up 1.8 percent to 14.22 yuan. Datong Coal Industry rose 3.7 percent to 48.25 yuan.
Aerospace sector outperformed on media reports China's first development base for satellite navigation application was set up in Shanghai on Monday. Hafei Aviation Industry Co surged 9 percent to 23.63 yuan. Xi'an Aircraft International Corp increased 3.6 percent to 15.95 yuan. Shaanxi Aero-space Power Hi-tech Co edged up 1.7 percent to 14.55 yuan.
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