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Shanghai market rises in morning
By Feng Jianmin |
July 14, 2010, Wednesday
|
Online Edition
Online Edition
SHANGHAI stocks rose in the morning session preceding Agricultural Bank of China's trading.
The benchmark Shanghai Composite Index rose 1.05 percent, or 25.81 points, to close at 2476.10. Turnover expanded to 40.4 billion yuan (US$5.96 billion) from yesterday's 37.4 billion yuan.
The Shenzhen Composite Index, which covers the smaller mainland exchange, went up 0.73 percent to 986.9 points.
Agricultural Bank of China will start trading in Shanghai tomorrow, raising a record amount of mainland IPO capital of about 60 billion yuan.
Banks went up. Bank of China rose 0.57 percent to 3.53 yuan. Industrial and Commercial Bank of China added 0.24 percent to 4.26 yuan. China Construction Bank gained 0.84 percent to 4.80 yuan.
Miners led the gainers on higher metal prices in the London market and a healthy export outlook. Jiangxi Copper, China's biggest producer of the metal, climbed 4.16 percent to 25.53 yuan. Aluminum Corp. of China Ltd., the listed unit of nation's biggest maker of the lightweight metal, rose 2.24 percent to 9.14 yuan.
Airlines gains on speculation that appreciation of yuan may lower their cost and debt pressure. China Eastern Airlines Corp advanced 2.5 percent to 6.95 yuan. Air China was 1.73 percent higher at 11.15 yuan. China Southern Airlines Co added 0.62 percent to 6.48 yuan.
The benchmark Shanghai Composite Index rose 1.05 percent, or 25.81 points, to close at 2476.10. Turnover expanded to 40.4 billion yuan (US$5.96 billion) from yesterday's 37.4 billion yuan.
The Shenzhen Composite Index, which covers the smaller mainland exchange, went up 0.73 percent to 986.9 points.
Agricultural Bank of China will start trading in Shanghai tomorrow, raising a record amount of mainland IPO capital of about 60 billion yuan.
Banks went up. Bank of China rose 0.57 percent to 3.53 yuan. Industrial and Commercial Bank of China added 0.24 percent to 4.26 yuan. China Construction Bank gained 0.84 percent to 4.80 yuan.
Miners led the gainers on higher metal prices in the London market and a healthy export outlook. Jiangxi Copper, China's biggest producer of the metal, climbed 4.16 percent to 25.53 yuan. Aluminum Corp. of China Ltd., the listed unit of nation's biggest maker of the lightweight metal, rose 2.24 percent to 9.14 yuan.
Airlines gains on speculation that appreciation of yuan may lower their cost and debt pressure. China Eastern Airlines Corp advanced 2.5 percent to 6.95 yuan. Air China was 1.73 percent higher at 11.15 yuan. China Southern Airlines Co added 0.62 percent to 6.48 yuan.
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