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Metal shares in Shanghai rise but developers drop
By Ding Yining |
April 2, 2010, Friday
|
Online Edition
Online Edition
SHANGHAI'S stock market barely moved in the morning session as the strong performance of metal producers was eroded by weak property shares.
The benchmark Shanghai Composite Index was up 0.09 percent, or 2.85 points, to close at 3,150.27 points. Turnover was 82 billion yuan(US$12 billion). Losers outnumbered gainers 440 to 410, and 70 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, edged up 0.40 percent to close at 1,233.53 points.
Banks showed mixed results. Industrial & Commercial Bank of China, the nation's biggest lender, was down 0.40 percent to 5 yuan. Shanghai Pudong Development Bank added 0.57 percent to 22.98 yuan. Bank of Communications edged up 0.24 percent to 8.42 yuan.
Metal producers were strong after gold price rose 1 percent to US$1,126 an ounce yesterday. Zijin Gold Mining Co jumped 2.42 percent to 8.48 yuan. Shandong Gold Mining Co surged 6.04 percent to 76 yuan. Jiangxi Copper advanced 2.92 percent to 37.66 yuan.
Huaneng International Co, the country's largest electricity provider, lost 0.41 percent to 7.32 yuan. Huadian Power International Co was down 0.80 percent to 4.97 yuan.
Coal producers were also among the gainers. Henan Shenhua Coal Industry & Power Co advanced 3.46 percent to 32.85 yuan. Shanxi Xishan Coal and Electricity Power Co jumped 3.01 percent to 36.96 yuan. Datong Coal Industry rose 3.24 percent to 39.21 yuan.
Property shares were generally weak among concerns for tighter mortgage policies. Shanghai Lujiazui Finance & Trade Zone Development Co Ltd lost 0.33 percent to 24.21 yuan. Shanghai AJ Corporation dipped 0.17 percent to 11.94 yuan. Shanghai Jielong Industry Group Co dropped 0.80 percent to 14.79 yuan.
The benchmark Shanghai Composite Index was up 0.09 percent, or 2.85 points, to close at 3,150.27 points. Turnover was 82 billion yuan(US$12 billion). Losers outnumbered gainers 440 to 410, and 70 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, edged up 0.40 percent to close at 1,233.53 points.
Banks showed mixed results. Industrial & Commercial Bank of China, the nation's biggest lender, was down 0.40 percent to 5 yuan. Shanghai Pudong Development Bank added 0.57 percent to 22.98 yuan. Bank of Communications edged up 0.24 percent to 8.42 yuan.
Metal producers were strong after gold price rose 1 percent to US$1,126 an ounce yesterday. Zijin Gold Mining Co jumped 2.42 percent to 8.48 yuan. Shandong Gold Mining Co surged 6.04 percent to 76 yuan. Jiangxi Copper advanced 2.92 percent to 37.66 yuan.
Huaneng International Co, the country's largest electricity provider, lost 0.41 percent to 7.32 yuan. Huadian Power International Co was down 0.80 percent to 4.97 yuan.
Coal producers were also among the gainers. Henan Shenhua Coal Industry & Power Co advanced 3.46 percent to 32.85 yuan. Shanxi Xishan Coal and Electricity Power Co jumped 3.01 percent to 36.96 yuan. Datong Coal Industry rose 3.24 percent to 39.21 yuan.
Property shares were generally weak among concerns for tighter mortgage policies. Shanghai Lujiazui Finance & Trade Zone Development Co Ltd lost 0.33 percent to 24.21 yuan. Shanghai AJ Corporation dipped 0.17 percent to 11.94 yuan. Shanghai Jielong Industry Group Co dropped 0.80 percent to 14.79 yuan.
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