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Shanghai shares close mixed in the morning
By Lydia Chen |
January 13, 2011, Thursday
|
Online Edition
Online Edition
SHANGHAI'S key stock index merely changed this morning. Shares in information and integrated circuit industries rallied after the State Council released measures to support their developments.
The Shanghai Composite Index, which tracks the bigger mainland market, edged up 0.01 percent to 2,821.48. Turnover added to 48.64 billion yuan (US$7.37 billion) from yesterday morning's 43.08 billion yuan.
Shaanxi Fenghuo Electronics Co led its peers to rise 6.92 percent to 8.19 yuan. Shanghai Baosight Software Co surged 6.06 percent to 27.47 yuan.
The government will earmark capital from the central budget to fund technological improvements and upgrading of projects in qualified integrated circuit enterprises, according to a statement issued at the end of a State Council's meeting chaired by Premier Wen Jiabao.
Tax concessions for the two industries, such as preferential value-added tax rates for software products and favorable corporate income tax and business tax rates for qualified companies, will continue, the statement said.
But developers paired the market gains by software makers, halting their two-day strong performances as a report said Shanghai may impose a property tax soon.
China Vanke, the biggest developer, lost 1.10 percent to 8.97 yuan. Poly Real Estate Group Co, the second biggest, shed 0.86 percent to 14.98 yuan.
China Securities Journal reported today that Shanghai may impose a property tax rate of 0.5 to 0.6 percent on buyers whose new homes exceeding 70 square meters of area per person.
The Shanghai Composite Index, which tracks the bigger mainland market, edged up 0.01 percent to 2,821.48. Turnover added to 48.64 billion yuan (US$7.37 billion) from yesterday morning's 43.08 billion yuan.
Shaanxi Fenghuo Electronics Co led its peers to rise 6.92 percent to 8.19 yuan. Shanghai Baosight Software Co surged 6.06 percent to 27.47 yuan.
The government will earmark capital from the central budget to fund technological improvements and upgrading of projects in qualified integrated circuit enterprises, according to a statement issued at the end of a State Council's meeting chaired by Premier Wen Jiabao.
Tax concessions for the two industries, such as preferential value-added tax rates for software products and favorable corporate income tax and business tax rates for qualified companies, will continue, the statement said.
But developers paired the market gains by software makers, halting their two-day strong performances as a report said Shanghai may impose a property tax soon.
China Vanke, the biggest developer, lost 1.10 percent to 8.97 yuan. Poly Real Estate Group Co, the second biggest, shed 0.86 percent to 14.98 yuan.
China Securities Journal reported today that Shanghai may impose a property tax rate of 0.5 to 0.6 percent on buyers whose new homes exceeding 70 square meters of area per person.
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