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Property and media lead market gains
By Feng Jianmin and Ding Yining |
August 17, 2010, Tuesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index ended higher today after property and culture sectors rose while metal producers closed lower.
The benchmark Shanghai Composite Index rose 0.38 percent, or 10.18 points, to close at 2,671.89 points. Turnover stood at 128.6 billion yuan (US$18.8 billion).
The Shenzhen Composite Index, which tracks the smaller domestic market, added 0.89 percent to close at 1,138.10 points.
Property developers gained. China Vanke went up 0.56 percent to 8.94 yuan. Gemdale Corp edged up 0.86 percent to 7.06 yuan. Poly Real Estate Co advanced 2.47 percent to 13.29 yuan.
Metal producers were weak. Jiangxi Copper Co fell 0.79 percent to 29.01 yuan. Yunnan Copper Industry Co dipped 0.05 percent to 20.80 yuan. Ningbo Fubang Jingye Group Co lost 1.26 percent to 8.60 yuan.
Communication and culture industries led the gainers after the central government pledged to boost the industries in accordance to the country's economic development. Guangdong China Sunshine Media Co hiked 10 percent to 12.67 yuan. Huawen Media Investment Corp surged 5.79 percent to 6.58 yuan. Northern United Publishing & Media Group Co climbed 3.50 percent to 12.12 yuan.
Steel mills went mixed after some steel producers raised prices for September delivery on growing demand. Lingyuan Iron & Steel Co added 2.09 percent to 7.81 yuan. Wuhan Iron & Steel Co edged up 0.21 percent to 4.85 yuan. Angang Steel Co rose 0.70 percent to 8.66 yuan.
Baoshan Iron & Steel Co dipped 0.15 percent to 6.51 yuan after it kept prices steady as a result of cautious market outlook.
The benchmark Shanghai Composite Index rose 0.38 percent, or 10.18 points, to close at 2,671.89 points. Turnover stood at 128.6 billion yuan (US$18.8 billion).
The Shenzhen Composite Index, which tracks the smaller domestic market, added 0.89 percent to close at 1,138.10 points.
Property developers gained. China Vanke went up 0.56 percent to 8.94 yuan. Gemdale Corp edged up 0.86 percent to 7.06 yuan. Poly Real Estate Co advanced 2.47 percent to 13.29 yuan.
Metal producers were weak. Jiangxi Copper Co fell 0.79 percent to 29.01 yuan. Yunnan Copper Industry Co dipped 0.05 percent to 20.80 yuan. Ningbo Fubang Jingye Group Co lost 1.26 percent to 8.60 yuan.
Communication and culture industries led the gainers after the central government pledged to boost the industries in accordance to the country's economic development. Guangdong China Sunshine Media Co hiked 10 percent to 12.67 yuan. Huawen Media Investment Corp surged 5.79 percent to 6.58 yuan. Northern United Publishing & Media Group Co climbed 3.50 percent to 12.12 yuan.
Steel mills went mixed after some steel producers raised prices for September delivery on growing demand. Lingyuan Iron & Steel Co added 2.09 percent to 7.81 yuan. Wuhan Iron & Steel Co edged up 0.21 percent to 4.85 yuan. Angang Steel Co rose 0.70 percent to 8.66 yuan.
Baoshan Iron & Steel Co dipped 0.15 percent to 6.51 yuan after it kept prices steady as a result of cautious market outlook.
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