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Shanghai market changes little in morning
By Joyce Pan |
March 16, 2010, Tuesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index remained flat in the morning session as gains in consumer sectors were overshadowed by losses of coal producers on lower prices.
The benchmark Shanghai Composite Index added 0.15 percent, or 4.57 points, to close at 2,981.5 points. Turnover stood at 31.9 billion yuan (US$4.69 billion). Gainers outnumbered losers 455 to 370 and 70 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 0.21 percent to close at 1,137.74 points.
Suning Appliance Co edged up 0.3 percent to 17.76 yuan after saying its full-year profit jumped 33.17 percent from a year earlier to 2.89 billion yuan. It made a successful entry into Hong Kong SAR and Japan last year and is aiming for more than 25 percent market share in Hong Kong in the next three years by opening 30 more outlets in the city.
GD Midea Holding Co added 0.2 percent to 6.57 yuan as net income soared 85 percent to 1.89 billion yuan and sales gained 4.3 percent to 47 billion yuan.
Bucking the upward trend, coal producers fell after China's benchmark Qinhuangdao coal prices kept moving southward after six weeks of continuous drop. China Shenhua Energy Co, the country's top coal producer, retreated 1.1 percent to 27.84 yuan. China Coal Energy Co eased 0.6 percent to 11.24 yuan.
The benchmark Shanghai Composite Index added 0.15 percent, or 4.57 points, to close at 2,981.5 points. Turnover stood at 31.9 billion yuan (US$4.69 billion). Gainers outnumbered losers 455 to 370 and 70 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 0.21 percent to close at 1,137.74 points.
Suning Appliance Co edged up 0.3 percent to 17.76 yuan after saying its full-year profit jumped 33.17 percent from a year earlier to 2.89 billion yuan. It made a successful entry into Hong Kong SAR and Japan last year and is aiming for more than 25 percent market share in Hong Kong in the next three years by opening 30 more outlets in the city.
GD Midea Holding Co added 0.2 percent to 6.57 yuan as net income soared 85 percent to 1.89 billion yuan and sales gained 4.3 percent to 47 billion yuan.
Bucking the upward trend, coal producers fell after China's benchmark Qinhuangdao coal prices kept moving southward after six weeks of continuous drop. China Shenhua Energy Co, the country's top coal producer, retreated 1.1 percent to 27.84 yuan. China Coal Energy Co eased 0.6 percent to 11.24 yuan.
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