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Paper makers and brokers lead Shanghai stocks up
By Lydia Chen |
February 24, 2011, Thursday
|
Online Edition
Online Edition
SHANGHAI'S key stock index increased slightly this morning on the back of paper makers, brokerages and coal producers.
The Shanghai Composite Index edged up 0.28 percent to 2,870.67. Turnover added to 79.77 billion yuan (US$12.14 billion) from yesterday morning's 72.33 billion yuan.
Paper makers extended yesterday's gains and were the best performers this morning.
The sector took three positions among the top 10 most gained. Fujian Nanzhi Co paced the rise among its peers. The stock jumped 9.97 percent to 6.40 yuan. Yueyang Paper Co climbed 8.17 percent to 10.20 yuan.
Brokerages followed the momentum as authorities declared margin trading and securities lending will become a routine business for securities firms this year while they will also be allowed to launch direct investment programs to buy stocks from companies.
Changjiang Securities hiked 2.57 percent to 12.78 yuan. Hongyuan Securities buoyed 2.83 percent to 17.82 yuan.
The Shanghai Composite Index edged up 0.28 percent to 2,870.67. Turnover added to 79.77 billion yuan (US$12.14 billion) from yesterday morning's 72.33 billion yuan.
Paper makers extended yesterday's gains and were the best performers this morning.
The sector took three positions among the top 10 most gained. Fujian Nanzhi Co paced the rise among its peers. The stock jumped 9.97 percent to 6.40 yuan. Yueyang Paper Co climbed 8.17 percent to 10.20 yuan.
Brokerages followed the momentum as authorities declared margin trading and securities lending will become a routine business for securities firms this year while they will also be allowed to launch direct investment programs to buy stocks from companies.
Changjiang Securities hiked 2.57 percent to 12.78 yuan. Hongyuan Securities buoyed 2.83 percent to 17.82 yuan.
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