Related News
Shanghai market posts first weekly gain in one month
Online Edition
Shanghai stocks advanced today, posting the first weekly gain in one month, led by homebuilders and brokerages.
The benchmark Shanghai Composite Index edged up 0.6 percent, or 12.21 points, to 2,054.39. Turnover was 82.3 billion yuan by the trading close. The index gained 2.47 percent this week after three weeks of losses.
“The market is going through a technical rebound after being oversold,” Shenyin & Wanguo Securities said today. “Improving liquidity situation also helped,” the broker added.
The seven-day repurchase rate, a gauge of borrowing costs, fell 110 basis points to 4.3 percent, according to the National Interbank Funding Center.
The People’s Bank of China this week added 375 billion yuan to the financial system through repos.
Homebuilders were among the biggest gainers after Haitong Securities said the valuation of real estate companies has reached a record low after declining for nearly seven months.
Poly Real Estate, China’s second-largest homebuilder, climbed 3 percent to 8.18 yuan. Gemdale Corporation gained 1.5 percent to 6.20 yuan. Gree Real Estate Co Ltd increased 2.2 percent to 8.94 yuan.
Brokerages gained amid optimism over their earnings as 266 companies registered their shares on the over-the-counter board, a platform for trading non-listed shares.
The number of registered firms has reached 621. PricewaterhouseCoopers estimated that more than 5,000 companies will be trading on the board in the next five year.
“The expansion of OTC board will boost brokerages’ long-term profitability,” Huatai Securities said in a note earlier.
Pacific Securities Co Ltd surged 9.9 percent to 7.42 yuan. Founder Securities increased 3.5 percent to 5.87 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
