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
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
