Related News
Shanghai shares rally, led by oil, distillery, real estate firms
Online Edition
SHANGHAI stocks recovered some losses this morning, helped by gains of heavily-weighted oil, distillery and property shares.
The key Shanghai Composite Index rose 0.63 percent, or 13.36 points, to 2,132.42. Half-day turnover was 67.2 billion yuan.
“The market is expected to continue an upward trend on growing expectations for new reforms ahead of key policy meetings in March and because recent economic data were largely in line with forecasts,” said CITIC Securities.
The market retreated yesterday after the People’s Bank of China drained cash from the banking system via repurchase deals for the first time in eight months.
But analysts said the move was not a sign of monetary tightening but an attempt to adjust liquidity supply after the Spring Festival holiday.
Oil stocks were winners. China Petroleum & Chemical Corp gained 1.1 percent to 4.58 yuan. PetroChina Co Ltd added 0.5 percent to 7.60 yuan. Sinopec Shanghai Petrochemical Co Ltd surged 7.6 percent to 3.42 yuan.
Distilleries advanced. Kweichow Moutai Co Ltd rose 2 percent to 150 yuan. Shanghai Jinfeng Wine Co Ltd increased 3.6 percent to 8.83 yuan.
Homebuilders also gained. Poly Real Estate, China’s second-largest developer, rose 1.1 percent to 7.61 yuan. Gemdale Corp increased 2.1 percent to 6.33 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.
