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Power firms rise as developers and banks drop in Shanghai
By Ding Yining |
April 12, 2011, Tuesday
|
Online Edition
Online Edition
THE Shanghai stock market remained almost unchanged today with gains of power producers being erased by losses in the property and banking sector.
The benchmark Shanghai Composite Index dipped 0.05 percent, or 1.38 points, to close at 3,021.37 points. Turnover was 165.56 billion yuan(US$25.1 billion). Gainers outnumbered losers by 475 to 407 while 55 shares remained unchanged.
Energy producers were the gainers among speculation the government will raise on-grid electricity prices within the next couple of days. Huaneng Power International Co jumped 7.21 percent to 6.10 yuan. Huadian Power International Co Ltd advanced 3.06 percent to 4.04 yuan. Shanghai Electric Power surged the daily limit of 10 percent to 4.93 yuan.
Gold miners retreated from earlier gains after the the bullion price dropped 0.4 percent to US$1,468 an ounce. Shandong Gold Mining Co fell 2.85 percent to 51.48 yuan. Zhongjin Gold Mining Co lost 2.20 percent to 36.89 yuan.
Oil producers were weak after oil dropped to near US$108 a barrerl on Tuesday. PetroChina lost 1.07 percent to 12.05 yuan. Oriental Energy Co Ltd retreated 2.15 percent to 10.47 yuan.
The benchmark Shanghai Composite Index dipped 0.05 percent, or 1.38 points, to close at 3,021.37 points. Turnover was 165.56 billion yuan(US$25.1 billion). Gainers outnumbered losers by 475 to 407 while 55 shares remained unchanged.
Energy producers were the gainers among speculation the government will raise on-grid electricity prices within the next couple of days. Huaneng Power International Co jumped 7.21 percent to 6.10 yuan. Huadian Power International Co Ltd advanced 3.06 percent to 4.04 yuan. Shanghai Electric Power surged the daily limit of 10 percent to 4.93 yuan.
Gold miners retreated from earlier gains after the the bullion price dropped 0.4 percent to US$1,468 an ounce. Shandong Gold Mining Co fell 2.85 percent to 51.48 yuan. Zhongjin Gold Mining Co lost 2.20 percent to 36.89 yuan.
Oil producers were weak after oil dropped to near US$108 a barrerl on Tuesday. PetroChina lost 1.07 percent to 12.05 yuan. Oriental Energy Co Ltd retreated 2.15 percent to 10.47 yuan.
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