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Shanghai equity index rises 1st in 5 days
By Feng Jianmin |
July 22, 2011, Friday
|
Online Edition
Online Edition
SHANGHAI'S key stock gauge rose for the first time in five days today with cement producers leading the gains amid thin trading volumes.
The Shanghai Composite Index edged up 0.18 percent to 2,770.79. Turnover dropped to 83 billion yuan (US$12.8 billion) from yesterday's 96.6 billion yuan.
The gauge fell 1.75 percent this week, ending a gaining streak of four weeks, on tight liquidity and data showing contracted manufacturing in July.
Cement makers played the hero to support the Shanghai market higher this morning with a gain of 1.63 percent for the sector.
Zhejiang Jianfeng Group climbed 7.9 percent to 15.28 yuan while Fujian Cement Co jumped 7.4 percent to 13.87 yuan.
But the gains were partly countered by falls among heavyweights such as developers and banks amid China's latest property tightening measures and Fitch Inc's alarm on Chinese lenders.
Shenzhen World Union Properties Consultancy Co lost 1.9 percent to 19.03 yuan. Industrial & Commercial Bank of China was down 0.5 percent to 4.35 yuan.
The Shanghai Composite Index edged up 0.18 percent to 2,770.79. Turnover dropped to 83 billion yuan (US$12.8 billion) from yesterday's 96.6 billion yuan.
The gauge fell 1.75 percent this week, ending a gaining streak of four weeks, on tight liquidity and data showing contracted manufacturing in July.
Cement makers played the hero to support the Shanghai market higher this morning with a gain of 1.63 percent for the sector.
Zhejiang Jianfeng Group climbed 7.9 percent to 15.28 yuan while Fujian Cement Co jumped 7.4 percent to 13.87 yuan.
But the gains were partly countered by falls among heavyweights such as developers and banks amid China's latest property tightening measures and Fitch Inc's alarm on Chinese lenders.
Shenzhen World Union Properties Consultancy Co lost 1.9 percent to 19.03 yuan. Industrial & Commercial Bank of China was down 0.5 percent to 4.35 yuan.
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