Related News
Mines and banks lead market to 3-month high
By Feng Jianmin |
August 19, 2010, Thursday
|
Online Edition
Online Edition
SHANGHAI'S key stock index hits 3-month high led by coal miners and banks on profit outlook, while property developers dropped on policy concerns.
The benchmark Shanghai Composite Index went up 0.81 percent, or 21.68 points, to close at 2,687.98 points. Turnover rose to 133.2 billion yuan (US$ 19.6 billion) from yesterday's 128.9 billion yuan.
The Shenzhen Composite Index, which tracks the smaller domestic market, closed 0.29 percent higher at 1,141.35 points.
Coal miners rallied on growing demand. China Shenhua Energy Co, the nation's largest coal producer climbed 5.37 percent to 25.71 yuan. Inner Mongolia Pingzhuang Energy Co advanced 5.6 percent to 12.82 yuan. Huolinhe Opencut Coal Industry hiked 5.62 percent to 23.30 yuan.
Banks gained on earnings in the first half. Bank of Communications reported today its profit gained 30 percent in the first half from last year. Its share is suspended trading today on shareholders' meeting. China Merchants Bank said today its profit grew 60 percent in the same period. Its share added 2.23 percent to 14.11 yuan. Industrial and Commercial Bank of China added 0.72 percent to 4.18 yuan after it gets approval to issue as much as 25 billion yuan of convertible bonds.
Property developers overshadowed market gains as the Ministry of Land and Resources plans to regulate land uses, according to its website today.
The ministry revealed 3,070 cases of improper land use up to May this year, of which 2,815 involves idle land.
China Vanke fell 0.57 percent to 8.74 yuan. Gemdale Corp lost 0.87 percent to 6.84 yuan. China Merchants Property Development Co dropped 1.84 percent to 20.27 yuan.
The benchmark Shanghai Composite Index went up 0.81 percent, or 21.68 points, to close at 2,687.98 points. Turnover rose to 133.2 billion yuan (US$ 19.6 billion) from yesterday's 128.9 billion yuan.
The Shenzhen Composite Index, which tracks the smaller domestic market, closed 0.29 percent higher at 1,141.35 points.
Coal miners rallied on growing demand. China Shenhua Energy Co, the nation's largest coal producer climbed 5.37 percent to 25.71 yuan. Inner Mongolia Pingzhuang Energy Co advanced 5.6 percent to 12.82 yuan. Huolinhe Opencut Coal Industry hiked 5.62 percent to 23.30 yuan.
Banks gained on earnings in the first half. Bank of Communications reported today its profit gained 30 percent in the first half from last year. Its share is suspended trading today on shareholders' meeting. China Merchants Bank said today its profit grew 60 percent in the same period. Its share added 2.23 percent to 14.11 yuan. Industrial and Commercial Bank of China added 0.72 percent to 4.18 yuan after it gets approval to issue as much as 25 billion yuan of convertible bonds.
Property developers overshadowed market gains as the Ministry of Land and Resources plans to regulate land uses, according to its website today.
The ministry revealed 3,070 cases of improper land use up to May this year, of which 2,815 involves idle land.
China Vanke fell 0.57 percent to 8.74 yuan. Gemdale Corp lost 0.87 percent to 6.84 yuan. China Merchants Property Development Co dropped 1.84 percent to 20.27 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
