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Market recovers after yesterday's plunge
By Lydia Chen |
February 23, 2011, Wednesday
|
Online Edition
Online Edition
SHARES in Shanghai bounced slightly back from yesterday's plunge on strength of drug makers and commodity shares.
But the gains among these sectors were partly offset by market heavyweights such as oil makers whose production may be disturbed by the worsening revolt in Libya and Middle East.
The Shanghai Composite Index edged up 0.25 percent to 2,862.54. Turnover fell sharply to 72.33 billion yuan (US$11 billion) from yesterday morning's 117.29 billion yuan.
Pharmaceuticals were one of the strong performers this morning over soon-to-be released new industry regulations from the government.
Beijing Tongrentang Co gained 8.79 percent 35.66 yuan. Guangzhou Pharmaceutical Co advanced 3.97 percent to 22.26 yuan.
Gold paced the gains among commodity shares as the precious metal topped US$1,400 an ounce in New York while silver hiked to the highest in 30 years amid the unrest in Libya.
Zhongjin Gold climbed 4.26 percent to 38.40 yuan. Shandong Gold Co soared 4.12 percent to 50.56 yuan.
But the gains among these sectors were partly offset by market heavyweights such as oil makers whose production may be disturbed by the worsening revolt in Libya and Middle East.
The Shanghai Composite Index edged up 0.25 percent to 2,862.54. Turnover fell sharply to 72.33 billion yuan (US$11 billion) from yesterday morning's 117.29 billion yuan.
Pharmaceuticals were one of the strong performers this morning over soon-to-be released new industry regulations from the government.
Beijing Tongrentang Co gained 8.79 percent 35.66 yuan. Guangzhou Pharmaceutical Co advanced 3.97 percent to 22.26 yuan.
Gold paced the gains among commodity shares as the precious metal topped US$1,400 an ounce in New York while silver hiked to the highest in 30 years amid the unrest in Libya.
Zhongjin Gold climbed 4.26 percent to 38.40 yuan. Shandong Gold Co soared 4.12 percent to 50.56 yuan.
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