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Miners and developers pace gain in Shanghai
By Feng Jianmin |
June 21, 2011, Tuesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index edged up for the first time in five days, led by coal miners and property developers.
The benchmark Shanghai Composite Index rose 0.22 percent in the morning session to 2,626.98 points. Turnover rose to 38 billion yuan (US$ 5.9 billion).
Coal miners rose on news that an energy industry area of 133,800 square kilometers will be built in China's western provinces rousing speculation for more investment in the sector. China Shenhua Energy Co rose 0.7 percent to 28.20 yuan. Shanxi Xishan Coal and Electricity Power Co rose 0.7 percent to 22.79 yuan.
Property developers extended previous gains on news that the State Council has allowed companies and financial institutions to issue enterprise bonds to raise funds for building affordable homes. China Merchants Property Development Co climbed 3 percent to 17.46 yuan. Poly Real Estate Co rose 1.5 percent to 10.59 yuan.
The benchmark Shanghai Composite Index rose 0.22 percent in the morning session to 2,626.98 points. Turnover rose to 38 billion yuan (US$ 5.9 billion).
Coal miners rose on news that an energy industry area of 133,800 square kilometers will be built in China's western provinces rousing speculation for more investment in the sector. China Shenhua Energy Co rose 0.7 percent to 28.20 yuan. Shanxi Xishan Coal and Electricity Power Co rose 0.7 percent to 22.79 yuan.
Property developers extended previous gains on news that the State Council has allowed companies and financial institutions to issue enterprise bonds to raise funds for building affordable homes. China Merchants Property Development Co climbed 3 percent to 17.46 yuan. Poly Real Estate Co rose 1.5 percent to 10.59 yuan.
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