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Market posts strong rebound in morning
By Ding Yining |
July 6, 2010, Tuesday
|
Online Edition
Online Edition
SHANGHAI'S market rebounded from previous excessive losses with gaining metal producers and banking sector and closed above 2,400 points in the morning session.
The benchmark Shanghai Composite Index climbed 1.75 percent, or 41.48 points, to close at 2,405.43 points. Turnover was 28.7 billion yuan (US$4.2 billion). A total of 874 shares added while only 19 dropped and 17 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, jumped 2.67 percent to close at 945.92 points.
Bank of Communications added 1.36 percent to 5.96 yuan. Shanghai Pudong Development Bank jumped 1.55 percent to 13.74 yuan. China Merchants Bank rose 1.49 percent to 12.97 yuan. Bank of China advanced 2.08 percent to 3.44 yuan.
Metal companies also ended higher. Yunnan Copper added 2.89 percent to 17.09 yuan. Aluminum Corp of China said it has extended the deadline for a planned private placement of A shares by a year. The stock climbed 1.98 percent to 8.76 yuan.
China Vanke Co said first half sales added 19.5 percent from that of last year's to 36.8 billion yuan. The stock advanced 2.44 percent to 7.15 yuan. Shanghai Lujiazui Finance & Trade Zone Development Co Ltd hiked 4.16 percent to 17.03 yuan. Shanghai Wai Gaoqiao Free Trade Zone Development Co Ltd surged 7.49 percent 11.62 yuan.
Home appliance makers also lifted the index. GD Midea Holding Co jumped 4.77 percent to 11.42 yuan. Hisense Electric Co rose 3.85 percent to 12.40 yuan. Suning Appliance Co hiked 3.35 percent to 11.42 yuan.
Citic Securities said it will inject 2.2 billion yuan in its investment subsidiary Goldstone Investment. The stock climbed 1.58 percent to 11.60 yuan.
Other heavily-weighted bluechips are also strong. PetroChina gained 1.16 percent to 10.46 yuan. Baoshan Iron & Steel Co was up 1.20 percent to 5.92 yuan.
The benchmark Shanghai Composite Index climbed 1.75 percent, or 41.48 points, to close at 2,405.43 points. Turnover was 28.7 billion yuan (US$4.2 billion). A total of 874 shares added while only 19 dropped and 17 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, jumped 2.67 percent to close at 945.92 points.
Bank of Communications added 1.36 percent to 5.96 yuan. Shanghai Pudong Development Bank jumped 1.55 percent to 13.74 yuan. China Merchants Bank rose 1.49 percent to 12.97 yuan. Bank of China advanced 2.08 percent to 3.44 yuan.
Metal companies also ended higher. Yunnan Copper added 2.89 percent to 17.09 yuan. Aluminum Corp of China said it has extended the deadline for a planned private placement of A shares by a year. The stock climbed 1.98 percent to 8.76 yuan.
China Vanke Co said first half sales added 19.5 percent from that of last year's to 36.8 billion yuan. The stock advanced 2.44 percent to 7.15 yuan. Shanghai Lujiazui Finance & Trade Zone Development Co Ltd hiked 4.16 percent to 17.03 yuan. Shanghai Wai Gaoqiao Free Trade Zone Development Co Ltd surged 7.49 percent 11.62 yuan.
Home appliance makers also lifted the index. GD Midea Holding Co jumped 4.77 percent to 11.42 yuan. Hisense Electric Co rose 3.85 percent to 12.40 yuan. Suning Appliance Co hiked 3.35 percent to 11.42 yuan.
Citic Securities said it will inject 2.2 billion yuan in its investment subsidiary Goldstone Investment. The stock climbed 1.58 percent to 11.60 yuan.
Other heavily-weighted bluechips are also strong. PetroChina gained 1.16 percent to 10.46 yuan. Baoshan Iron & Steel Co was up 1.20 percent to 5.92 yuan.
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