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Shanghai market has listless morning session
By Winny Wang |
March 30, 2010, Tuesday
|
Online Edition
Online Edition
SHARES on the Chinese mainland closed slightly lower in the morning session amid mixed performance between sluggish blue chips and strong Shanghai companies bolstered by the approaching World Expo.
The Shanghai Composite Index, which tracks the bigger mainland bourse, dipped 0.2 percent to 3,117.51 points at 11:30am. Turnover stood at 68.8 billion yuan (US$10.07 billion). Losers outnumbered gainers by 444 to 349 with 71 stocks unchanged.
The Shenzhen Composite Index, which tracks the smaller exchange, edged up 0.16 percent to 1,202.91 points
Heavyweights such as banks retreated after yesterday's rally spurred by the launch of stock index futures.
Industrial and Commercial Bank of China, the world's biggest lender in terms of market value, lost 0.2 percent to 5 yuan apiece. Bank of China, the country's biggest foreign exchange bank, dropped 0.23 percent to 4.35 yuan.
Shanghai local stocks performed actively in the morning with the approaching World Expo. Shanghai Jiaoyun Co Ltd jumped 4.23 percent to 10.34 yuan and Shanghai Qiangsheng Holding Co Ltd rose 5.85 percent to 10.49 yuan.
Prices for coal with an energy value of 5,500 kilocalories per kilogram rose 0.74 percent to between 675 yuan and 685 yuan a metric ton as of today compared with a week earlier, the first increase since January 11, according to the China Coal Transport & Distribution Association.
China Shenhua Energy Co, the country's largest coal producer, advanced 0.62 percent to 29.23 yuan. China Coal Energy Co, the nation's second-largest coal producer, grew 0.08 percent to 11.84 yuan.
Meanwhile, demand for coal-fired plants was spurred after a severe drought in southern China cut hydropower generation.
The Shanghai Composite Index, which tracks the bigger mainland bourse, dipped 0.2 percent to 3,117.51 points at 11:30am. Turnover stood at 68.8 billion yuan (US$10.07 billion). Losers outnumbered gainers by 444 to 349 with 71 stocks unchanged.
The Shenzhen Composite Index, which tracks the smaller exchange, edged up 0.16 percent to 1,202.91 points
Heavyweights such as banks retreated after yesterday's rally spurred by the launch of stock index futures.
Industrial and Commercial Bank of China, the world's biggest lender in terms of market value, lost 0.2 percent to 5 yuan apiece. Bank of China, the country's biggest foreign exchange bank, dropped 0.23 percent to 4.35 yuan.
Shanghai local stocks performed actively in the morning with the approaching World Expo. Shanghai Jiaoyun Co Ltd jumped 4.23 percent to 10.34 yuan and Shanghai Qiangsheng Holding Co Ltd rose 5.85 percent to 10.49 yuan.
Prices for coal with an energy value of 5,500 kilocalories per kilogram rose 0.74 percent to between 675 yuan and 685 yuan a metric ton as of today compared with a week earlier, the first increase since January 11, according to the China Coal Transport & Distribution Association.
China Shenhua Energy Co, the country's largest coal producer, advanced 0.62 percent to 29.23 yuan. China Coal Energy Co, the nation's second-largest coal producer, grew 0.08 percent to 11.84 yuan.
Meanwhile, demand for coal-fired plants was spurred after a severe drought in southern China cut hydropower generation.
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