Related News
Record finish for key index
By Joyce Pan |
May 9, 2009, Saturday
|
Print Edition
Print Edition
SHANGHAI'S key stock index ended the week upbeat, hitting a record high since August, led by lenders and property developers.
The Shanghai Composite Index rose 1.09 percent, or 28.20 points, to close at 2,625.65. Gainers outnumbered losers 435 to 388 with 20 unchanged. Turnover shrank to 156.22 billion yuan (US$22.9 billion) from 174.95 billion on Thursday.
The index gained an accumulative 5.98 percent this week.
It closed lower at the morning break following tumbles in United States markets. But lenders and property developers led shares up on expectations China's central bank would further lower the reserve requirement to ensure stable growth of bank loans and smooth economic recovery.
"Property sales in April boosted investors' confidence in the sector," said Si Wen, an analyst from Huaxi Securities Co.
Poly Real Estate Group Co surged 4.77 percent to 21.73 yuan. Shanghai-based Shimao climbed 1.99 percent to 13.3 yuan. Shanghai Lujiazui Finance & Trade Zone inched up 0.31 percent to 26.12 yuan.
China Merchants Bank Co jumped 6.07 percent to 17.29 yuan. China Construction Bank Corp rose 2.17 percent to 4.71 yuan. Shanghai Pudong Development Bank Co increased 0.89 percent to 24.82 yuan and Industrial and Commercial Bank of China gained 1.87 percent to 4.36 yuan.
Steel producers were sluggish.
Wuhan Iron and Steel Co dipped by 0.68 percent to 7.34 yuan while Inner Mongolia Bao Tou Steel Union Co edged down 0.53 percent to 3.74 yuan.
The Shanghai Composite Index rose 1.09 percent, or 28.20 points, to close at 2,625.65. Gainers outnumbered losers 435 to 388 with 20 unchanged. Turnover shrank to 156.22 billion yuan (US$22.9 billion) from 174.95 billion on Thursday.
The index gained an accumulative 5.98 percent this week.
It closed lower at the morning break following tumbles in United States markets. But lenders and property developers led shares up on expectations China's central bank would further lower the reserve requirement to ensure stable growth of bank loans and smooth economic recovery.
"Property sales in April boosted investors' confidence in the sector," said Si Wen, an analyst from Huaxi Securities Co.
Poly Real Estate Group Co surged 4.77 percent to 21.73 yuan. Shanghai-based Shimao climbed 1.99 percent to 13.3 yuan. Shanghai Lujiazui Finance & Trade Zone inched up 0.31 percent to 26.12 yuan.
China Merchants Bank Co jumped 6.07 percent to 17.29 yuan. China Construction Bank Corp rose 2.17 percent to 4.71 yuan. Shanghai Pudong Development Bank Co increased 0.89 percent to 24.82 yuan and Industrial and Commercial Bank of China gained 1.87 percent to 4.36 yuan.
Steel producers were sluggish.
Wuhan Iron and Steel Co dipped by 0.68 percent to 7.34 yuan while Inner Mongolia Bao Tou Steel Union Co edged down 0.53 percent to 3.74 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
