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Shanghai index rises on strong trade data
By Ye Zhen |
January 10, 2013, Thursday
|
Online Edition
Online Edition
SHANGHAI stocks advanced this morning, boosted by trade data that showed China's exports and imports surged in December.
The Shanghai Composite Index rose 0.46 percent to 2,285.82 points. Turnover reached 53.9 billion yuan (US$8.7 billion) by midday.
China's exports in December jumped 14.1 percent from a year earlier to US$199.2 billion, while imports climbed 6 percent to US$167.6 billion, according to data released today by the General Administration of Customs.
Robust exports pushed China's trade surplus to US$31.6 billion in December, up from November's US$19.6 billion, the administration said.
Last year, Chinese exports expanded 7.9 percent to US$2.05 trillion, while imports increased 4.3 percent to US$1.82 trillion. The nation's foreign trade rose 6.2 percent in 2012, short of the official target of 10 percent.
Property developers led the gains. Poly Real Estate jumped 1.6 percent to 14.21 yuan. Gemdale Corporation added 0.7 percent to 7.12 yuan.
Brokerages also advanced. CITIC Securities, China's biggest listed brokerage, jumped 2 percent to 13.28 yuan. Sinolink Securities Co advanced 2 percent to 17.58 yuan. Haitong Securities Co added 1 percent to 10.02 yuan.
The Shanghai Composite Index rose 0.46 percent to 2,285.82 points. Turnover reached 53.9 billion yuan (US$8.7 billion) by midday.
China's exports in December jumped 14.1 percent from a year earlier to US$199.2 billion, while imports climbed 6 percent to US$167.6 billion, according to data released today by the General Administration of Customs.
Robust exports pushed China's trade surplus to US$31.6 billion in December, up from November's US$19.6 billion, the administration said.
Last year, Chinese exports expanded 7.9 percent to US$2.05 trillion, while imports increased 4.3 percent to US$1.82 trillion. The nation's foreign trade rose 6.2 percent in 2012, short of the official target of 10 percent.
Property developers led the gains. Poly Real Estate jumped 1.6 percent to 14.21 yuan. Gemdale Corporation added 0.7 percent to 7.12 yuan.
Brokerages also advanced. CITIC Securities, China's biggest listed brokerage, jumped 2 percent to 13.28 yuan. Sinolink Securities Co advanced 2 percent to 17.58 yuan. Haitong Securities Co added 1 percent to 10.02 yuan.
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