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Shanghai shares rise in morning session
By Lu Nengneng |
April 25, 2012, Wednesday
|
Online Edition
Online Edition
SHANGHAI'S stock market went up in morning trading, led by property developers and brokers.
The key benchmark Shanghai Composite Index rose 0.33 percent to 2,396.68 points at the midday break. Turnover stood at 58 billion yuan (US$10.8 billion).
Galaxy Securities said in a note that positive policy changes are presently the biggest upside for investors as China's economic outlook remains unclear.
Property developers strengthened as the Ministry of Housing and Urban-Rural Development is reportedly working on policies in favor of qualified homebuyers, who will help revitalize the housing market, which has been cooled by a series of measures.
China Vanke, the country's biggest developer, gained 1.4 percent to 8.75 yuan. Poly Real Estate jumped 1.2 percent to 12.15 yuan.
Brokers also advanced. Industrial Bank added 1.8 percent to 12.33 yuan. Guangfa Securities rose 1.7 percent to 31.55 yuan.
The key benchmark Shanghai Composite Index rose 0.33 percent to 2,396.68 points at the midday break. Turnover stood at 58 billion yuan (US$10.8 billion).
Galaxy Securities said in a note that positive policy changes are presently the biggest upside for investors as China's economic outlook remains unclear.
Property developers strengthened as the Ministry of Housing and Urban-Rural Development is reportedly working on policies in favor of qualified homebuyers, who will help revitalize the housing market, which has been cooled by a series of measures.
China Vanke, the country's biggest developer, gained 1.4 percent to 8.75 yuan. Poly Real Estate jumped 1.2 percent to 12.15 yuan.
Brokers also advanced. Industrial Bank added 1.8 percent to 12.33 yuan. Guangfa Securities rose 1.7 percent to 31.55 yuan.
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