Related News

Home » Business » Finance

Producers help steel morning market

SHANGHAI'S key stock index reversed early losses and ended slightly higher at the end of the morning session, led by steel producers.

The benchmark Shanghai Composite Index was up 0.06 percent, or 1.87 points, to close at 3,126.54 points, after touching a low of 3,083.65 points. Turnover stood at 96.87 billion yuan (US$14.17 billion). Gainers outnumbered losers 529 to 315 and 25 remained unchanged.

The Shenzhen Composite Index, which tracks the smaller domestic market, rose 0.77 percent to close at 1,018.39 points.

Steel producers headed the advance. Baoshan Iron & Steel Co gained 3.79 percent to 8.21 yuan. Wuhan Iron & Steel Co advanced 5.94 percent to 9.1 yuan and Angang Steel Co added 2.58 percent to 15.1 yuan.

And brokerages also enjoyed support. CITIC Securities Co edged up 1.83 percent to 32.19 yuan. Sinolink Securities Co jumped 2.25 percent to 25.9 yuan. Haitong Securities Co increased 0.49 percent to 18.35 yuan. Pacific Securities Co expanded 0.16 percent to 19.33 yuan.

Running against the profit current property developers fell. Shanghai Lujiazui Finance & Trade Zone tumbled 1.45 percent to 25.8 yuan. Poly Real Estate Group Co plunged 2.23 percent to 28.99 yuan. Gemdale Corp inched down 0.49 percent to 18.2 yuan.

Commodity producers declined on lower metal prices. Zhongjin Gold slid 1.1 percent to 62.93 yuan, while Shandong Gold Mining declined 1.05 percent to 62 yuan. Gold fell 0.7 percent to US$924.30 an ounce on the New York Mercantile Exchange's Comex division.

Elsewhere, Huadian Power International Co, based in eastern Shandong province, jumped 7.74 percent to 5.71 yuan after a unit bought stakes in two coal companies.


Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend