Related News
Optimism lifts index over 2%
SHANGHAI'S key stock index ended more than 2 percent higher yesterday on investor optimism as the domestic economy has shown signs of recovery.
The Shanghai Composite Index rose 2.14 percent, or 53.52 points, to close at 2,557.46 points. Turnover shrank to 140.5 billion yuan (US$20.66 billion) from 157.6 billion yuan on Friday. Gainers outnumbered losers by 781 to 63.
"There has been a recovery in overall market sentiment and the stable performance of heavy weights propped up the benchmark index," said Wu Ling, an analyst with S&E Securities Brokerage Co. "The index is not likely to experience sharp falls as heavyweights are still undervalued."
The index's rebound "is expected to last for some time and there are possibilities the index would accelerate its upward pace," said Kang Hongtao, an analyst from Guoyuan Securities Co.
China's stimulus plan has shown "better-than-expected" results in reviving growth and helped restore market confidence, Premier Wen Jiabao said at the Boao forum over the weekend.
China's economy grew 6.1 percent in the first quarter and industrial output also expanded.
Airlines led the gains as ticket prices rose and are set to climb by an average 20 percent under a new ticket-pricing system which started yesterday.
Air China, the nation's largest international carrier, surged 8.64 percent to 7.29 yuan while China Southern Airlines Co climbed 5.85 percent to 6.33 yuan. Hainan Airlines Co gained 7.44 percent to 6.21 yuan and Shanghai Airlines Co rose 5.06 percent to 4.98 yuan.
The Shanghai Composite Index rose 2.14 percent, or 53.52 points, to close at 2,557.46 points. Turnover shrank to 140.5 billion yuan (US$20.66 billion) from 157.6 billion yuan on Friday. Gainers outnumbered losers by 781 to 63.
"There has been a recovery in overall market sentiment and the stable performance of heavy weights propped up the benchmark index," said Wu Ling, an analyst with S&E Securities Brokerage Co. "The index is not likely to experience sharp falls as heavyweights are still undervalued."
The index's rebound "is expected to last for some time and there are possibilities the index would accelerate its upward pace," said Kang Hongtao, an analyst from Guoyuan Securities Co.
China's stimulus plan has shown "better-than-expected" results in reviving growth and helped restore market confidence, Premier Wen Jiabao said at the Boao forum over the weekend.
China's economy grew 6.1 percent in the first quarter and industrial output also expanded.
Airlines led the gains as ticket prices rose and are set to climb by an average 20 percent under a new ticket-pricing system which started yesterday.
Air China, the nation's largest international carrier, surged 8.64 percent to 7.29 yuan while China Southern Airlines Co climbed 5.85 percent to 6.33 yuan. Hainan Airlines Co gained 7.44 percent to 6.21 yuan and Shanghai Airlines Co rose 5.06 percent to 4.98 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔$粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.