Related News
Shanghai index up 0.3% in morning session
By Ye Zhen |
February 25, 2013, Monday
|
Online Edition
Online Edition
SHANGHAI stocks opened higher this morning amid reports that China's securities regulator may relax rules on foreign investment in the domestic capital market even though the country's manufacturing sector may have expanded at the slowest pace in four months.
The key Shanghai Composite Index added 0.3 percent to 2,321.12 points. Turnover was 43.6 billion (US$7 billion) by midday.
The China Securities Regulatory Commission will soon implement revised rules, allowing more foreign institutions to participate in the Renminbi Qualified Foreign Institutional Investor scheme and invest in the domestic capital market with offshore yuan, the official Xinhua News Agency reported yesterday.
Currently, only fund management companies and securities firms can join in the scheme.
The regulator will also scrap the rules requiring foreign investors to put at least 80 percent of their yuan funds in the bond market and no more than 20 percent of their funds in the stock market, according to Xinhua.
The move will encourage more capital to flow into the domestic securities market, Xinhua said.
The HSBC Flash China Purchasing Managers' Index, the earliest indicator of the country's economic conditions, fell to 50.4 in February, down from a two-year high of 52.3 in January, HSBC Holdings PLC announced today.
The index is a gauge of manufacturing activity slanted more towards private and export-oriented firms. A reading of 50 or above indicates the activity is expanding.
Brokerages gained among financial stocks. CITIC Securities, China's biggest listed brokerage, added 0.4 percent to 13.77 yuan. Founder Securities Co jumped 4.6 percent to 5.88 yuan. Haitong Securities Co advanced 1 percent to 11.61 yuan.
Most property developers lost. Poly Real Estate, China's second-largest developer, declined 2.7 percent to 12.06 yuan. Gemdale Corporation dropped 2.9 percent to 6.72 yuan.
The key Shanghai Composite Index added 0.3 percent to 2,321.12 points. Turnover was 43.6 billion (US$7 billion) by midday.
The China Securities Regulatory Commission will soon implement revised rules, allowing more foreign institutions to participate in the Renminbi Qualified Foreign Institutional Investor scheme and invest in the domestic capital market with offshore yuan, the official Xinhua News Agency reported yesterday.
Currently, only fund management companies and securities firms can join in the scheme.
The regulator will also scrap the rules requiring foreign investors to put at least 80 percent of their yuan funds in the bond market and no more than 20 percent of their funds in the stock market, according to Xinhua.
The move will encourage more capital to flow into the domestic securities market, Xinhua said.
The HSBC Flash China Purchasing Managers' Index, the earliest indicator of the country's economic conditions, fell to 50.4 in February, down from a two-year high of 52.3 in January, HSBC Holdings PLC announced today.
The index is a gauge of manufacturing activity slanted more towards private and export-oriented firms. A reading of 50 or above indicates the activity is expanding.
Brokerages gained among financial stocks. CITIC Securities, China's biggest listed brokerage, added 0.4 percent to 13.77 yuan. Founder Securities Co jumped 4.6 percent to 5.88 yuan. Haitong Securities Co advanced 1 percent to 11.61 yuan.
Most property developers lost. Poly Real Estate, China's second-largest developer, declined 2.7 percent to 12.06 yuan. Gemdale Corporation dropped 2.9 percent to 6.72 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
