Related News
Property rally pushes stocks to 4th week of gains
By Hu Xiaocen |
February 10, 2012, Friday
|
Online Edition
Online Edition
SHANGHAI stocks rose on speculation of easing property curbs, as an eastern city in China announced plans to subsidize home purchases.
The Shanghai Composite index gained 0.10 percent, to 2,351.98 points at the close of trading, registering a fourth week of gains. Turnover stood at 82.2 billion yuan (US$13.1 billion).
Wuhu, a city in Anhui Province, announced a home buying subsidy scheme of 50 yuan a square meter for the purchase of homes between 70 to 90 square meters, and 150 yuan a square meter for homes smaller than 70 square meters, according to a statement posted on the local government's website yesterday.
"The rally of property developers will benefit more than 20 related sectors, and will pull up the index," said Cheng Yimin, an analyst at Chubu Securities. "Stocks will continue to climb with less fluctuation next week."
Property developers extended their rally to the third consecutive day since the central bank pledged to meet demands from first-home buyers seeking loans, in a bid to support the construction of affordable housing projects.
China Vanke, the nation's biggest listed developer jumped 1.95 percent to 7.85 yuan. Poly Real Estate Group surged 3.31 percent to 10.91 yuan. Beijing Capital Development jumped 5.58 percent to 9.84 yuan.
"Despite the news of Wuhu city, there's no sign that China's major cities will ease property curbs," said Tong Bin, an analyst at Guotai Junan Securities.
Meanwhile, individuals account for 99.6 percent of all investors in China's stock markets, according to Wu Lijun, assistant to the Chairman of China Securities Regulatory Commission.
"Brokerage firms play a significant role in protecting the investors. More institutional investors should be attracted to make value investments in the stock market in the long term."
The Shanghai Composite index gained 0.10 percent, to 2,351.98 points at the close of trading, registering a fourth week of gains. Turnover stood at 82.2 billion yuan (US$13.1 billion).
Wuhu, a city in Anhui Province, announced a home buying subsidy scheme of 50 yuan a square meter for the purchase of homes between 70 to 90 square meters, and 150 yuan a square meter for homes smaller than 70 square meters, according to a statement posted on the local government's website yesterday.
"The rally of property developers will benefit more than 20 related sectors, and will pull up the index," said Cheng Yimin, an analyst at Chubu Securities. "Stocks will continue to climb with less fluctuation next week."
Property developers extended their rally to the third consecutive day since the central bank pledged to meet demands from first-home buyers seeking loans, in a bid to support the construction of affordable housing projects.
China Vanke, the nation's biggest listed developer jumped 1.95 percent to 7.85 yuan. Poly Real Estate Group surged 3.31 percent to 10.91 yuan. Beijing Capital Development jumped 5.58 percent to 9.84 yuan.
"Despite the news of Wuhu city, there's no sign that China's major cities will ease property curbs," said Tong Bin, an analyst at Guotai Junan Securities.
Meanwhile, individuals account for 99.6 percent of all investors in China's stock markets, according to Wu Lijun, assistant to the Chairman of China Securities Regulatory Commission.
"Brokerage firms play a significant role in protecting the investors. More institutional investors should be attracted to make value investments in the stock market in the long term."
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
