Related News
Shanghai index hits 12-month high point
By Ding Yining |
June 26, 2009, Friday
|
Print Edition
Print Edition
SHANGHAI'S key stock index rose yesterday to close at a 12-month high due to strong performances by insurers and property developers.
The benchmark Shanghai Composite Index edged up 0.09 percent, or 2.75 points, to close at 2,925.05. Turnover was 129.3 billion yuan (US$18.9 billion).
"Investors should be cautious of short-term fluctuations brought by the resumption of IPOs next Monday, and we think heavyweights may outperform the market," Fang Tiecheng, an analyst at United Securities wrote in a research report.
Sinopec Group on Wednesday said it has agreed to buy Addax Petroleum Corp for US$7.2 billion, giving it oil reserves from west Africa to Iraq. China Petroleum and Chemical Corp, Asia's largest refiner and Sinopec Group's listed unit, rose 0.38 percent to 10.56 yuan.
China Pacific Insurance (Group) Co jumped 6.37 percent to 21.38 yuan. Ping An Insurance (Group) Co rose 2.8 percent to 47.04 yuan. China Life Insurance Co, the country's largest life insurance company, was up 2.39 percent to 27.45 yuan.
Banks had mixed results. The Industrial and Commercial Bank of China was up 1.49 percent to 5.44 yuan. Shanghai Pudong Development Bank lost 0.94 percent to 22.14 yuan. China Construction Bank rose 0.49 percent to close at 6.10 yuan. The Bank of Communications was down 1.01 percent to 8.86 yuan.
China Vanke Co, the biggest listed domestic real estate developer, was up 0.4 percent to 12.46 yuan.
The benchmark Shanghai Composite Index edged up 0.09 percent, or 2.75 points, to close at 2,925.05. Turnover was 129.3 billion yuan (US$18.9 billion).
"Investors should be cautious of short-term fluctuations brought by the resumption of IPOs next Monday, and we think heavyweights may outperform the market," Fang Tiecheng, an analyst at United Securities wrote in a research report.
Sinopec Group on Wednesday said it has agreed to buy Addax Petroleum Corp for US$7.2 billion, giving it oil reserves from west Africa to Iraq. China Petroleum and Chemical Corp, Asia's largest refiner and Sinopec Group's listed unit, rose 0.38 percent to 10.56 yuan.
China Pacific Insurance (Group) Co jumped 6.37 percent to 21.38 yuan. Ping An Insurance (Group) Co rose 2.8 percent to 47.04 yuan. China Life Insurance Co, the country's largest life insurance company, was up 2.39 percent to 27.45 yuan.
Banks had mixed results. The Industrial and Commercial Bank of China was up 1.49 percent to 5.44 yuan. Shanghai Pudong Development Bank lost 0.94 percent to 22.14 yuan. China Construction Bank rose 0.49 percent to close at 6.10 yuan. The Bank of Communications was down 1.01 percent to 8.86 yuan.
China Vanke Co, the biggest listed domestic real estate developer, was up 0.4 percent to 12.46 yuan.
- 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.
