Related News
Shanghai shares rally on liquidity injection
Online Edition
SHANGHAI stocks recovered from its lowest level in more than five months this morning as China’s borrowing costs fell after the central bank injected liquidity into the market.
The benchmark Shanghai Composite Index gained 0.64 percent, or 12.71 points, to 2,003.96. Half-day turnover was 32.4 billion yuan (US$5.3 billion).
The People’s Bank of China today injected 75 billion yuan into the country’s banking system via seven-day reverse repurchase agreements and another 180 billion yuan through 21-day repos, the central bank said in a statement on its website.
The seven-day Shanghai Interbank Offered Rate, a gauge of funding costs, fell 79.40 basis points to 5.54 percent after the liquidity injection, data from the National Interbank Funding Center showed.
Eight companies launched their initial public offerings today, including three on Shenzhen Stock Exchange’s small and midsize enterprise board and five on the ChiNext board.
All the new shares surged in morning trading with Zhejiang Wolwo Bio-Pharmaceutical Co Ltd jumping 45.4 percent to 29.15 yuan, Truking Technology Ltd soaring 45.2 percent to 58.08 yuan and Guangdong Xinbao Electrical Appliances Holdings Co Ltd surging 45.2 percent to 15.25 yuan.
Seven of the new IPOs were suspended from trading until 14:47 pm after reaching the 20 percent limit from the offer prices.
Brokerages gained among financial stocks. CITIC Securities, China’s biggest listed broker, gained 1.7 percent to 11.70 yuan. Haitong Securities gained 2.2 percent to 10.41 yuan. Founder Securities increased 3.9 percent to 5.54 yuan.
Lenders cheered the liquidity injection. Shanghai Pudong Development Bank Co Ltd added 1.1 percent to 9.17 yuan. China Merchants Bank Co Ltd rose 1.1 percent to 10.58 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.
