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Shanghai market flat in morning
By Feng Jianmin |
June 8, 2010, Tuesday
|
Online Edition
Online Edition
SHANGHAI stocks edged up slightly as financial worries drove up gold price.
The benchmark Shanghai Composite Index edged up 0.37 percent, or 9.22 points, to close at 2520.95. Turnover was 36.3 billion yuan (US$5.32 billion). Gainers outnumbered losers by 616 to 201, and 191 remained unchanged.
The Shenzhen Composite Index, which covers the smaller mainland exchange, added 1 percent to 1,034.93.
Gold for August delivery in New York market rallied to a near record high yesterday as investors increasingly buy the metal as a hedge against financial deterioration.
Zijin Mining gained 2.04 percent to 6.99 yuan. Shandong Gold Mining Co. inched up 0.64 percent to 39.62 yuan. Zhongjin Gold Corp. added 1.25 percent to 57.64 yuan.
Metal producers went mixed among low commodity prices. Western Mining Co added 0.19 percent to 10.65 yuan. Aluminum Corp. of China inched up 0.2 percent to 10.10 yuan. Jiangxi Copper Co edged down 0.04 percent to 27.48 yuan.
Banks remained generally flat as China's Securities Regulatory Commission is to review Agricultural Bank of China's huge public offering plan tomorrow to sell 22.24 billion A shares in Shanghai and 25.41 billion H shares in Hong Kong. Bank of China lost 0.56 percent to 3.53 yuan. China Construction Bank went down 0.21 percent to 4.72 yuan. Industrial and Commercial Bank of China remained unchanged at 4.12 yuan.
The property sector went mixed. Gemdale Corp went up 0.92 percent to 6.60 yuan. China Vanke was unchanged at 7.12 yuan. China Merchants Property Development Co trailed 1.3 percent to 15.21 yuan.
The benchmark Shanghai Composite Index edged up 0.37 percent, or 9.22 points, to close at 2520.95. Turnover was 36.3 billion yuan (US$5.32 billion). Gainers outnumbered losers by 616 to 201, and 191 remained unchanged.
The Shenzhen Composite Index, which covers the smaller mainland exchange, added 1 percent to 1,034.93.
Gold for August delivery in New York market rallied to a near record high yesterday as investors increasingly buy the metal as a hedge against financial deterioration.
Zijin Mining gained 2.04 percent to 6.99 yuan. Shandong Gold Mining Co. inched up 0.64 percent to 39.62 yuan. Zhongjin Gold Corp. added 1.25 percent to 57.64 yuan.
Metal producers went mixed among low commodity prices. Western Mining Co added 0.19 percent to 10.65 yuan. Aluminum Corp. of China inched up 0.2 percent to 10.10 yuan. Jiangxi Copper Co edged down 0.04 percent to 27.48 yuan.
Banks remained generally flat as China's Securities Regulatory Commission is to review Agricultural Bank of China's huge public offering plan tomorrow to sell 22.24 billion A shares in Shanghai and 25.41 billion H shares in Hong Kong. Bank of China lost 0.56 percent to 3.53 yuan. China Construction Bank went down 0.21 percent to 4.72 yuan. Industrial and Commercial Bank of China remained unchanged at 4.12 yuan.
The property sector went mixed. Gemdale Corp went up 0.92 percent to 6.60 yuan. China Vanke was unchanged at 7.12 yuan. China Merchants Property Development Co trailed 1.3 percent to 15.21 yuan.
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