Related News
Market recovers on hopes that reserve ratio may be lowered
By Lydia Chen |
September 7, 2011, Wednesday
|
Online Edition
Online Edition
SHARES in Shanghai made some recovery in morning trade, with financials leading blue chips higher on expectations that China might lower its record high bank reserve ratio.
The Shanghai Composite Index closed early trade with a jump of 1.32 percent to 2,503.19, the first rise in five trading days. Turnover, however, remained extremely low at about 29.9 billion yuan (US$4.68 billion), indicating investors' reluctance to participate.
Brokerages were the biggest gainers among financials this morning. Founder Securities Co hiked 7.18 percent to 6.27 yuan. CITIC Securities, one of the country's biggest brokerages, climbed 3.75 percent to 12.16 yuan.
Banks followed the gainers. Industrial & Commercial Bank of China, the country's largest lender, added 1.23 percent to 4.12 yuan.
Analysts said the rise among financial plays was probably a result of growing expectations in the market that the central bank may lower its bank reserve requirement ratio to slightly ease liquidity in the market.
The Shanghai Composite Index closed early trade with a jump of 1.32 percent to 2,503.19, the first rise in five trading days. Turnover, however, remained extremely low at about 29.9 billion yuan (US$4.68 billion), indicating investors' reluctance to participate.
Brokerages were the biggest gainers among financials this morning. Founder Securities Co hiked 7.18 percent to 6.27 yuan. CITIC Securities, one of the country's biggest brokerages, climbed 3.75 percent to 12.16 yuan.
Banks followed the gainers. Industrial & Commercial Bank of China, the country's largest lender, added 1.23 percent to 4.12 yuan.
Analysts said the rise among financial plays was probably a result of growing expectations in the market that the central bank may lower its bank reserve requirement ratio to slightly ease liquidity in the market.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
