Related News
Oil giants gain but metal firms drop in Shanghai
By Feng Jianmin |
November 11, 2010, Thursday
|
Online Edition
Online Edition
A morning rally of Shanghai's key stock index was partly offset by declines in the metal sector on concerns about lower output. Oil producers gained on growing prices.
The benchmark Shanghai Composite Index rose 1 percent, or 32.4 points, to close at 3,147.7. Turnover grew to 287 billion yuan (US$ 43.2 billion) from yesterday's 248.9 billion yuan.
The Shenzhen Component Index, which tracks the smaller domestic market in southern China, was down 0.15 percent at 13,684.9.
China's top statistic bureau said today that the country's copper output in October dipped 0.2 percent from last year and 1.2 percent from last month. Output of aluminum also fell 5.4 percent from last year. The market was also worried that high prices may hurt demand.
Metal producers were mixed after a late day tumble. Aluminum Corp of China edged up 0.4 percent higher at 12.56 yuan. Shenzhen Zhongjin Lingnan Nonfemet Co dropped 2.63 percent to 24.78 yuan. Yunnan Copper Co edged up 0.4 percent to 29.56 yuan.
Two biggest oil producers and refiners in China made the biggest contributors to gains on the gauge after oil price climbed to above US$88 a barrel on the New York market. PetroChina Co surged 7.7 percent to 12.74 yuan. China Petroleum & Chemical Corp jumped 5.2 percent to 9.49 yuan.
Coal producers gained after coal prices in China posted growth for seven consecutive weeks on inflation and boosted demand for storage ahead of winter. Datong Coal Industry Co climbed 4 percent to 26.35 yuan. China Shenhua Energy Co, the nation's largest coal producer, rose 3.4 percent to 29.53 yuan. Shanxi Xishan Coal & Electricity Power Co jumped 4.4 percent to 29.24 yuan.
The benchmark Shanghai Composite Index rose 1 percent, or 32.4 points, to close at 3,147.7. Turnover grew to 287 billion yuan (US$ 43.2 billion) from yesterday's 248.9 billion yuan.
The Shenzhen Component Index, which tracks the smaller domestic market in southern China, was down 0.15 percent at 13,684.9.
China's top statistic bureau said today that the country's copper output in October dipped 0.2 percent from last year and 1.2 percent from last month. Output of aluminum also fell 5.4 percent from last year. The market was also worried that high prices may hurt demand.
Metal producers were mixed after a late day tumble. Aluminum Corp of China edged up 0.4 percent higher at 12.56 yuan. Shenzhen Zhongjin Lingnan Nonfemet Co dropped 2.63 percent to 24.78 yuan. Yunnan Copper Co edged up 0.4 percent to 29.56 yuan.
Two biggest oil producers and refiners in China made the biggest contributors to gains on the gauge after oil price climbed to above US$88 a barrel on the New York market. PetroChina Co surged 7.7 percent to 12.74 yuan. China Petroleum & Chemical Corp jumped 5.2 percent to 9.49 yuan.
Coal producers gained after coal prices in China posted growth for seven consecutive weeks on inflation and boosted demand for storage ahead of winter. Datong Coal Industry Co climbed 4 percent to 26.35 yuan. China Shenhua Energy Co, the nation's largest coal producer, rose 3.4 percent to 29.53 yuan. Shanxi Xishan Coal & Electricity Power Co jumped 4.4 percent to 29.24 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.
