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Shanghai index stays flat in morning trading
By Ye Zhen |
January 30, 2013, Wednesday
|
Online Edition
Online Edition
SHANGHAI stocks traded almost flat this morning and a decline in financial stocks offset the gains of distilleries.
The key Shanghai Composite Index edged up 0.01 percent to 2,359.11 points by midday with a total turnover of 74 billion yuan (US$11.9 billion).
"Most investors remained optimistic about the outlook but profit taking may continue to weigh on the market in the short term," investment research firm CEBM Group said in a report today.
China's securities regulator is considering to earmark 100 billion yuan investment quota for Taiwanese investors who seek to invest in mainland stock markets under the Renminbi Qualified Foreign Institutional Investor scheme, Guo Shuqing, chairman of the China Securities Regulatory Commission, said at a conference yesterday.
A set of policies, such as lowering the threshold for Taiwanese investors and allowing Taiwanese citizens now living on the mainland to invest in the A-share market, were announced at the conference in a bid to link capital markets across the Taiwan Straits.
Distilleries led the market up. Kweichow Moutai Co, a leading producer of high-end liquor in China, gained 1.8 percent to 181.33 yuan. Shanxi Xinghuacun Fen Wine Factory Co added 2.1 percent to 35.07 yuan. Sichuan Tuopai Shede Wine Co jumped 5.6 percent to 26.62 yuan.
Most lenders declined. ICBC, the nation's largest lender, shed 0.2 percent to 4.28 yuan. China Merchants Bank dropped 2.1 percent to 14.30 yuan. Shanghai Pudong Development Bank decreased 1.3 percent to 11.15 yuan.
The key Shanghai Composite Index edged up 0.01 percent to 2,359.11 points by midday with a total turnover of 74 billion yuan (US$11.9 billion).
"Most investors remained optimistic about the outlook but profit taking may continue to weigh on the market in the short term," investment research firm CEBM Group said in a report today.
China's securities regulator is considering to earmark 100 billion yuan investment quota for Taiwanese investors who seek to invest in mainland stock markets under the Renminbi Qualified Foreign Institutional Investor scheme, Guo Shuqing, chairman of the China Securities Regulatory Commission, said at a conference yesterday.
A set of policies, such as lowering the threshold for Taiwanese investors and allowing Taiwanese citizens now living on the mainland to invest in the A-share market, were announced at the conference in a bid to link capital markets across the Taiwan Straits.
Distilleries led the market up. Kweichow Moutai Co, a leading producer of high-end liquor in China, gained 1.8 percent to 181.33 yuan. Shanxi Xinghuacun Fen Wine Factory Co added 2.1 percent to 35.07 yuan. Sichuan Tuopai Shede Wine Co jumped 5.6 percent to 26.62 yuan.
Most lenders declined. ICBC, the nation's largest lender, shed 0.2 percent to 4.28 yuan. China Merchants Bank dropped 2.1 percent to 14.30 yuan. Shanghai Pudong Development Bank decreased 1.3 percent to 11.15 yuan.
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