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Shanghai market gains lost ground in morning
By Lydia Chen |
June 3, 2011, Friday
|
Online Edition
Online Edition
SHANGHAI stock market rebounded in the morning session today on power of developers, coal producers and solar shares.
The Shanghai Composite Index added 0.89 percent to 2,729.38. Turnover stayed low at 42 billion yuan (US$6.48 billion).
Developers were one of the best performing sectors in the morning trading. Shandong Tyan Home Sale Co climbed 9.96 percent to 7.40 yuan.
Photovoltaic shares rallied after the China Securities Journal said China is going to double solar-power generation capacity in the next five years.
Guizhou Changzheng Electric Co hiked the daily cap of 10 percent to 21.13 yuan. Leshan Electric Power buoyed 6.27 percent to 15.08 yuan.
China plans to double solar power generation capacity to 10 gigawatts by the end of 2015, the China Securities Journal reported today, citing an unidentified source.
A solar power industry development plan for the five years through 2015 has been submitted to the State Council for approval, the Beijing-based newspaper reported.
But banks still suffered gloomy performances this morning as investors began to worry about their debt risks and a possible interest rate hike during the upcoming three-day holiday.
Industrial & Commercial Bank of China, the country's largest lender, lost 1.35 percent to 4.38 yuan.
The Shanghai Composite Index added 0.89 percent to 2,729.38. Turnover stayed low at 42 billion yuan (US$6.48 billion).
Developers were one of the best performing sectors in the morning trading. Shandong Tyan Home Sale Co climbed 9.96 percent to 7.40 yuan.
Photovoltaic shares rallied after the China Securities Journal said China is going to double solar-power generation capacity in the next five years.
Guizhou Changzheng Electric Co hiked the daily cap of 10 percent to 21.13 yuan. Leshan Electric Power buoyed 6.27 percent to 15.08 yuan.
China plans to double solar power generation capacity to 10 gigawatts by the end of 2015, the China Securities Journal reported today, citing an unidentified source.
A solar power industry development plan for the five years through 2015 has been submitted to the State Council for approval, the Beijing-based newspaper reported.
But banks still suffered gloomy performances this morning as investors began to worry about their debt risks and a possible interest rate hike during the upcoming three-day holiday.
Industrial & Commercial Bank of China, the country's largest lender, lost 1.35 percent to 4.38 yuan.
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