Shanghai market ends week positively

By Joyce Pan | May 15, 2009, Friday |

Online Edition

SHANGHAI'S key stock index closed higher today following strong performances in surrounding markets.

The benchmark Shanghai Composite Index added 0.2 percent, or 5.38 points, to close at 2,645.26 points. Turnover shrank to 106.61 billion yuan (US$15.68 billion) from 121.4 billion yuan on Thursday. Gainers outnumbered losers 482 to 331 while 15 remained unchanged.

The Shenzhen Composite Index, which tracks the smaller domestic market, was up 0.56 percent to close at 885.73 points.

Heavyweight blue chips propped up the market.

PetroChina, the biggest component index, climbed 0.46 percent to 13.17 yuan. China Shenhua Energy Co rose 0.48 percent to 27.19 yuan.

Shanghai Pudong Development Bank edged up 1.29 percent to 25.14 yuan. Bank of Communications increased 1.7 percent to 7.17 yuan. China Construction Bank inched up 0.44 percent to 4.60 yuan.

Bucking the upward trend, real estate developers lost. Gemdale Corporation retreated 0.72 percent to 16.50 yuan. China Merchants Property Development Co Ltd was down 1.18 percent to 29.25 yuan.

Finance

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Shanghai market ends week positively

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