Related News
Shanghai index jumps on stronger developers and banks
By Feng Jianmin |
September 30, 2010, Thursday
|
Online Edition
Online Edition
SHANGHAI'S key stock index rose the most in more than 3 weeks after property developers rebounded from recent declines as tightening measures unveiled yesterday had already been digested.
The benchmark Shanghai Composite Index went up 1.72 percent, or 45 points, to close at 2,655.66 points. Turnover stood at 107.1 billion yuan (US$ 7.63 billion), slightly higher than yesterday's 105.8 billion.
The Shenzhen Component Index, which tracks the smaller mainland exchange, also increased 2.18 percent to 11,468.54.
The central government has ordered commercial banks to stop offering loans to buyers of third homes and extended a 30 percent down payment requirement to all first-home buyers, according to a statement on government's website yesterday.
China will also speed up introduction of a trial property tax in some cities and then expand the levy to the whole country to curb rising real estate prices, according to the statement.
Lvjing Realestate Co led the gainers by hiking a daily limit of 10 percent to 9.83 yuan. China Vanke, China's largest developer, jumped 7.55 percent to 8.40 yuan. Poly Real Estate Co surged 8.9 percent to 12.36 yuan. Gemdale Corp grew 5.25 percent to 6.42 yuan.
Banks were strong on a positive policy outlook. Agricultural Bank of China rose 3.16 percent to 2.61 yuan. Industrial and Commercial Bank of China added 0.75 percent to 4.04 yuan. Bank of Communications went up 1.22 percent to 5.80 yuan. China Merchants Bank increased 2.29 percent to 12.95 yuan.
Gold producers rallied as bullion prices stood at record highs of US$1309 per ounce while the US dollar went weak. Zhongjin Gold Co rose 3.76 percent to 39.22 yuan. Shandong Gold Mining Co gained 3.59 percent to 55.87 yuan. Zijin Ming Group Co, China's largest gold producer, jumped 8.83 percent to 7.27 yuan.
The benchmark Shanghai Composite Index went up 1.72 percent, or 45 points, to close at 2,655.66 points. Turnover stood at 107.1 billion yuan (US$ 7.63 billion), slightly higher than yesterday's 105.8 billion.
The Shenzhen Component Index, which tracks the smaller mainland exchange, also increased 2.18 percent to 11,468.54.
The central government has ordered commercial banks to stop offering loans to buyers of third homes and extended a 30 percent down payment requirement to all first-home buyers, according to a statement on government's website yesterday.
China will also speed up introduction of a trial property tax in some cities and then expand the levy to the whole country to curb rising real estate prices, according to the statement.
Lvjing Realestate Co led the gainers by hiking a daily limit of 10 percent to 9.83 yuan. China Vanke, China's largest developer, jumped 7.55 percent to 8.40 yuan. Poly Real Estate Co surged 8.9 percent to 12.36 yuan. Gemdale Corp grew 5.25 percent to 6.42 yuan.
Banks were strong on a positive policy outlook. Agricultural Bank of China rose 3.16 percent to 2.61 yuan. Industrial and Commercial Bank of China added 0.75 percent to 4.04 yuan. Bank of Communications went up 1.22 percent to 5.80 yuan. China Merchants Bank increased 2.29 percent to 12.95 yuan.
Gold producers rallied as bullion prices stood at record highs of US$1309 per ounce while the US dollar went weak. Zhongjin Gold Co rose 3.76 percent to 39.22 yuan. Shandong Gold Mining Co gained 3.59 percent to 55.87 yuan. Zijin Ming Group Co, China's largest gold producer, jumped 8.83 percent to 7.27 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.
