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Shanghai shares rise led by banks
By Ding Yining |
February 9, 2010, Tuesday
|
Online Edition
Online Edition
SHANGHAI'S stock market edged up in the morning session, lifted by the banking sector.
The benchmark Shanghai Composite Index edged up 0.16 percent, or 4.58 points, to close at 2,939.76 points. Turnover was 39 billion yuan(US$5.7 billion). Losers outnumbered gainers 433 to 407, and 76 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, dipped 0.06 percent to close at 1,098.46 points.
Banks rebounded from previous losses. Shanghai Pudong Development Bank edged up 0.42 percent to 19.30 yuan. Bank of Communications rose 0.37 percent to 8.11 yuan. China Merchants Bank was up 0.53 percent to 15.21 yuan.
Real estate developers were weak. Poly Real Estate Group dipped 0.21 percent to 18.60 yuan. Shanghai Shimao Co Ltd retreated 1.87 percent to 13.60 yuan. China Vanke Co, the nation's biggest listed real estate developer, lost 0.44 percent to 9.08 yuan.
China Baoan Group said it plans to raise 950 million yuan to fund real estate projects through a private share placement. The stock lost 1.57 percent to 10.63 yuan.
Cosco Shipping Co, a unit of China's biggest shipping company, said that net income fell 91 percent to 135.5 million yuan in 2009. The stock lost 0.24 percent to 12.32 yuan.
Haitong Securities, the nation's second-largest listed brokerage, said it plans to invest 10 billion yuan in equities, in addition to 4 billion yuan of investment in margin trading business. Its shares were up 0.36 percent to 16.93 yuan.
The benchmark Shanghai Composite Index edged up 0.16 percent, or 4.58 points, to close at 2,939.76 points. Turnover was 39 billion yuan(US$5.7 billion). Losers outnumbered gainers 433 to 407, and 76 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, dipped 0.06 percent to close at 1,098.46 points.
Banks rebounded from previous losses. Shanghai Pudong Development Bank edged up 0.42 percent to 19.30 yuan. Bank of Communications rose 0.37 percent to 8.11 yuan. China Merchants Bank was up 0.53 percent to 15.21 yuan.
Real estate developers were weak. Poly Real Estate Group dipped 0.21 percent to 18.60 yuan. Shanghai Shimao Co Ltd retreated 1.87 percent to 13.60 yuan. China Vanke Co, the nation's biggest listed real estate developer, lost 0.44 percent to 9.08 yuan.
China Baoan Group said it plans to raise 950 million yuan to fund real estate projects through a private share placement. The stock lost 1.57 percent to 10.63 yuan.
Cosco Shipping Co, a unit of China's biggest shipping company, said that net income fell 91 percent to 135.5 million yuan in 2009. The stock lost 0.24 percent to 12.32 yuan.
Haitong Securities, the nation's second-largest listed brokerage, said it plans to invest 10 billion yuan in equities, in addition to 4 billion yuan of investment in margin trading business. Its shares were up 0.36 percent to 16.93 yuan.
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