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Metal producers add value to index
By Ding Yining |
May 27, 2010, Thursday
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Online Edition
Online Edition
SHANGHAI'S market added more than 1 percent today with strong performance by metal producers as investors appear less concerned about possible tightening measures.
The benchmark Shanghai Composite Index rose 1.15 percent, or 30.13 points, to close at 2,655.92 points. Turnover was 96.5 billion yuan (US$14 billion). A total of 820 shares closed higher while only 39 dropped and 54 shares remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, added 2.01 percent to close at 1,060.33 points.
Bank of Communications rallied 3.02 percent to 6.82 yuan. Shanghai Pudong Development Bank rose 1.05 percent to 19.31 yuan. China Life Insurance Co jumped 1.12 percent to 24.41 yuan. Ping An Insurance (Group) Co added 1.50 percent to 46.10 yuan.
Metal producers also ended higher. Zhongjin Gold Mining Co rallied 3.35 percent to 60.14 yuan. Yunnan Copper rose 2.98 percent to 22.43 yuan. Aluminum Corporation of China Ltd jumped 3.13 percent to 10.55 yuan.
Property shares also rebounded from earlier losses. China Vanke Co, the biggest listed domestic real estate developer, rose 1.21 percent to 7.53 yuan. Poly Real Estate Group edged up 0.26 percent to 11.73 yuan. Shanghai Lujiazui Finance & Trade Zone Development Co Ltd added 1.34 percent to 18.95 yuan.
Bank of Beijing said shareholders have approved its plan to raise no more than 30 billion yuan through issuing bonds. The stock was up 0.59 percent to 13.56 yuan.
China South Locomotive & Rolling Stock Corp said it will invest 10 billion yuan in the next five years to develop rail-equipment manufacturing in Hunan Province, under an agreement with the local government and China Development Bank. Its shares added 1.41 percent to 5.03 yuan.
The benchmark Shanghai Composite Index rose 1.15 percent, or 30.13 points, to close at 2,655.92 points. Turnover was 96.5 billion yuan (US$14 billion). A total of 820 shares closed higher while only 39 dropped and 54 shares remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, added 2.01 percent to close at 1,060.33 points.
Bank of Communications rallied 3.02 percent to 6.82 yuan. Shanghai Pudong Development Bank rose 1.05 percent to 19.31 yuan. China Life Insurance Co jumped 1.12 percent to 24.41 yuan. Ping An Insurance (Group) Co added 1.50 percent to 46.10 yuan.
Metal producers also ended higher. Zhongjin Gold Mining Co rallied 3.35 percent to 60.14 yuan. Yunnan Copper rose 2.98 percent to 22.43 yuan. Aluminum Corporation of China Ltd jumped 3.13 percent to 10.55 yuan.
Property shares also rebounded from earlier losses. China Vanke Co, the biggest listed domestic real estate developer, rose 1.21 percent to 7.53 yuan. Poly Real Estate Group edged up 0.26 percent to 11.73 yuan. Shanghai Lujiazui Finance & Trade Zone Development Co Ltd added 1.34 percent to 18.95 yuan.
Bank of Beijing said shareholders have approved its plan to raise no more than 30 billion yuan through issuing bonds. The stock was up 0.59 percent to 13.56 yuan.
China South Locomotive & Rolling Stock Corp said it will invest 10 billion yuan in the next five years to develop rail-equipment manufacturing in Hunan Province, under an agreement with the local government and China Development Bank. Its shares added 1.41 percent to 5.03 yuan.
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