Related News
Shanghai market remains flat in morning
By Pan Xiaoyi |
November 25, 2009, Wednesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index was flat in the morning session after retreating more than 3 percent yesterday as recent gains have been excessive compared with earnings prospective.
The benchmark Shanghai Composite Index dipped 0.18 percent, or 5.88 points, to close at 3,217.64 points. Turnover stood at 113 billion yuan (US$16.62 billion). Gainers outnumbered losers 495 to 371, and 26 stocks remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, rose 0.66 percent to close at 1,182.86 points.
"The rallies of most shares lacked the support from their corporate earnings. And the current prices are not at a reasonable range," GF Securities Co wrote in a research note.
"The stock market still faced high risks and needed a round of corrections to bring shares back to a more reasonable value," the brokerage added.
Bank of China withdrew 1.7 percent to 4.18 yuan after saying it's studying "various options" to replenish capital yesterday. Shanghai Pudong Development Bank lowered 2 percent to 22.55 yuan. China Construction Bank eased 1.6 percent to close at 6 yuan.
Bucking the downward trend, gold producers advanced on soaring bullion price. Shandong Gold Mining Co rallied 4.2 percent to 79.97 yuan. Zijin Mining Group Co, the country's largest gold producer, increased 2.9 percent to 10.61 yuan. Zhongjin Gold Corp, the second biggest by market value, gained 1.7 percent to 61.70 yuan.
Gold futures for December delivery gained US$1.10 to US$1,165.80 an ounce on the New York Mercantile Exchange's Comex division.
Haitong Securities Co, the nation's second-biggest brokerage, jumped 2.8 percent to 16.01 yuan as it resumed trading after buying a controlling stake in Taifook Securities Group Ltd.
The benchmark Shanghai Composite Index dipped 0.18 percent, or 5.88 points, to close at 3,217.64 points. Turnover stood at 113 billion yuan (US$16.62 billion). Gainers outnumbered losers 495 to 371, and 26 stocks remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, rose 0.66 percent to close at 1,182.86 points.
"The rallies of most shares lacked the support from their corporate earnings. And the current prices are not at a reasonable range," GF Securities Co wrote in a research note.
"The stock market still faced high risks and needed a round of corrections to bring shares back to a more reasonable value," the brokerage added.
Bank of China withdrew 1.7 percent to 4.18 yuan after saying it's studying "various options" to replenish capital yesterday. Shanghai Pudong Development Bank lowered 2 percent to 22.55 yuan. China Construction Bank eased 1.6 percent to close at 6 yuan.
Bucking the downward trend, gold producers advanced on soaring bullion price. Shandong Gold Mining Co rallied 4.2 percent to 79.97 yuan. Zijin Mining Group Co, the country's largest gold producer, increased 2.9 percent to 10.61 yuan. Zhongjin Gold Corp, the second biggest by market value, gained 1.7 percent to 61.70 yuan.
Gold futures for December delivery gained US$1.10 to US$1,165.80 an ounce on the New York Mercantile Exchange's Comex division.
Haitong Securities Co, the nation's second-biggest brokerage, jumped 2.8 percent to 16.01 yuan as it resumed trading after buying a controlling stake in Taifook Securities Group Ltd.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
