Related News
Shanghai shares gain on strength in real estate sector
Online Edition
SHANGHAI stocks gained today, lifted by property developers on expectations the government will ease controls on the sector and urbanization will accelerate.
The Shanghai Composite Index rose 0.32 percent, or 6.49 points, to 2,059.58. Turnover was 92.6 billion yuan (US$15.2 billion) at the trading close.
Property shares led the market after the government work report for 2014 said China will vary property regulations for different cities and increase supply of commodity housing and shared-ownership properties to curb speculative demand and promote healthy development of the real-estate sector.
“Compared with last year’s report in which the government urged to build a housing control system, the wording is much softer in this year’s report, signaling the loosening of government control over the sector,” Yi Huaqiang, analyst with Huarong Securities, said in a report today.
“Meanwhile, promoting urbanization remains a priority for the government. That would help boost home demand,” Yi said.
Poly Real Estate, China’s second largest developer, surged 5.4 percent to 7.01 yuan. China Fortune Land Co Ltd jumped 6.9 percent to 21.56 yuan. Gemdale Corporation added 2.7 percent to close at 6.40 yuan.
- 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.
