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Shanghai index rises most in a week
By Ding Yining |
September 13, 2010, Monday
|
Online Edition
Online Edition
SHANGHAI'S key stock index closed up nearly 1 percent, the most in one week, lifted by financial shares and heavily-weighted energy companies as the market was less concerned about possible interest rate rises in the near future.
The benchmark Shanghai Composite Index rose 0.94 percent, or 25.13 points, to close at 2,688.32 points. Turnover was 140.8 billion yuan(US$21 billion).
The Shenzhen Composite Index, which tracks the smaller domestic market, jumped 1.58 percent to close at 1,206.21 points.
Travel agencies and consumer shares were also strong among expectations that spending during the National Day holiday will boost their incomes. Beijing Capital Tourism Co jumped 4.06 percent to 25.87 yuan. Wuhan Sante Cableways Group Co rallied 6.05 percent to 22.44 yuan. Xi'an Tourism Co advanced 3.23 percent to 9.28 yuan.
Banks and insurers showed mixed results. Shanghai Pudong Development Bank dipped 0.15 percent to 13.49 yuan. China Citic Bank was down 0.19 percent to 5.39 yuan. Ping An Insurance Group added 1.14 percent to 49.62 yuan. Bank of China edged up 0.30 percent to 3.35 yuan.
Brokerages closed higher. Sinolink Securities added 1.78 percent to 17.13 yuan. Haitong Securities rose 0.85 percent to 9.48 yuan.
China Petroleum & Chemical Corp, Asia's largest oil refiner, has started building a liquefied natural gas terminal in the Shandong Province. Its shares jumped 1.35 percent to 8.25 yuan. China Shenhua Energy Co, the country's biggest coal producer, added 0.72 percent to 23.86 yuan. PetroChina, the biggest index component, rose 0.88 percent to 10.27 yuan.
Property sector also rebounded from earlier losses. China Vanke Co jumped 2.33 percent to 8.35 yuan. Gemdale Corporation rose 2.07 percent 6.40 yuan. Shanghai Shimao Co was up 2 percent to 12.27 yuan.
The benchmark Shanghai Composite Index rose 0.94 percent, or 25.13 points, to close at 2,688.32 points. Turnover was 140.8 billion yuan(US$21 billion).
The Shenzhen Composite Index, which tracks the smaller domestic market, jumped 1.58 percent to close at 1,206.21 points.
Travel agencies and consumer shares were also strong among expectations that spending during the National Day holiday will boost their incomes. Beijing Capital Tourism Co jumped 4.06 percent to 25.87 yuan. Wuhan Sante Cableways Group Co rallied 6.05 percent to 22.44 yuan. Xi'an Tourism Co advanced 3.23 percent to 9.28 yuan.
Banks and insurers showed mixed results. Shanghai Pudong Development Bank dipped 0.15 percent to 13.49 yuan. China Citic Bank was down 0.19 percent to 5.39 yuan. Ping An Insurance Group added 1.14 percent to 49.62 yuan. Bank of China edged up 0.30 percent to 3.35 yuan.
Brokerages closed higher. Sinolink Securities added 1.78 percent to 17.13 yuan. Haitong Securities rose 0.85 percent to 9.48 yuan.
China Petroleum & Chemical Corp, Asia's largest oil refiner, has started building a liquefied natural gas terminal in the Shandong Province. Its shares jumped 1.35 percent to 8.25 yuan. China Shenhua Energy Co, the country's biggest coal producer, added 0.72 percent to 23.86 yuan. PetroChina, the biggest index component, rose 0.88 percent to 10.27 yuan.
Property sector also rebounded from earlier losses. China Vanke Co jumped 2.33 percent to 8.35 yuan. Gemdale Corporation rose 2.07 percent 6.40 yuan. Shanghai Shimao Co was up 2 percent to 12.27 yuan.
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