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Shanghai shares rise led by steel firms
By Ding Yining |
March 3, 2010, Wednesday
|
Online Edition
Online Edition
SHANGHAI'S key stock gauge ended higher in the morning session, led by heavyweights and steel makers as more market participants took a positive outlook of the country's economic recovery.
The benchmark Shanghai Composite Index was up 0.35 percent, or 10.67 points, to close at 3,083.78 points. Turnover was 67.4 billion yuan(US$9.9 billion). Gainers outnumbered losers 581 to 269, and 66 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, edged up 0.56 percent to close at 1,190.62 points.
Individual investors opened 330,875 accounts last week, the most in more than two months as markets rebounds after a week-long holiday.
Heavily weighted steel makers and power plants are among the gainers. Baoshan Iron and Steel Co, China's biggest steel maker, added 0.74 percent to 8.15 yuan. Huaneng Power International Inc advanced 1.75 percent to 7.56 yuan. Angang Steel Co edged up 0.92 percent to 12.13 yuan.
Jiangling Motors Corp said its vehicle sales in the first two months doubled from those of last year to 24,495 units. The stock added 1.06 percent to 20.91 yuan.
Guodian Nanjing Automation Co said it plans to raise as much as 780 million yuan through a private placement. The stock retreated 3.70 percent to 25.80 yuan.
Banks were flat. Bank of Communications dipped 0.12 percent to 8.27 yuan. China Merchants Bank lost 0.43 percent to 16.39 yuan. China Construction Bank was down 0.35 percent to 5.67 yuan.
Real estate developers were generally weak among expectations that there will be heated discussions over how to curb the country's surging property prices during the annual session of the Chinese People's Political Consultative Conference which opens today.
China Vanke Co dipped 0.21 percent to 9.59 yuan. China Merchants Property Development Co Ltd lost 1.07 percent to 23.18 yuan. Gemdale Corporation was down 0.16 percent to 12.85 yuan.
Metal suppliers showed mixed results. Yunnan Copper Co lowered 1.24 percent to 26.39 yuan. Jiangxi Copper was down 0.57 percent at 36.55 yuan. Zhongjin Gold Mining Co advanced 2.22 percent to 50.54 yuan.
The benchmark Shanghai Composite Index was up 0.35 percent, or 10.67 points, to close at 3,083.78 points. Turnover was 67.4 billion yuan(US$9.9 billion). Gainers outnumbered losers 581 to 269, and 66 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, edged up 0.56 percent to close at 1,190.62 points.
Individual investors opened 330,875 accounts last week, the most in more than two months as markets rebounds after a week-long holiday.
Heavily weighted steel makers and power plants are among the gainers. Baoshan Iron and Steel Co, China's biggest steel maker, added 0.74 percent to 8.15 yuan. Huaneng Power International Inc advanced 1.75 percent to 7.56 yuan. Angang Steel Co edged up 0.92 percent to 12.13 yuan.
Jiangling Motors Corp said its vehicle sales in the first two months doubled from those of last year to 24,495 units. The stock added 1.06 percent to 20.91 yuan.
Guodian Nanjing Automation Co said it plans to raise as much as 780 million yuan through a private placement. The stock retreated 3.70 percent to 25.80 yuan.
Banks were flat. Bank of Communications dipped 0.12 percent to 8.27 yuan. China Merchants Bank lost 0.43 percent to 16.39 yuan. China Construction Bank was down 0.35 percent to 5.67 yuan.
Real estate developers were generally weak among expectations that there will be heated discussions over how to curb the country's surging property prices during the annual session of the Chinese People's Political Consultative Conference which opens today.
China Vanke Co dipped 0.21 percent to 9.59 yuan. China Merchants Property Development Co Ltd lost 1.07 percent to 23.18 yuan. Gemdale Corporation was down 0.16 percent to 12.85 yuan.
Metal suppliers showed mixed results. Yunnan Copper Co lowered 1.24 percent to 26.39 yuan. Jiangxi Copper was down 0.57 percent at 36.55 yuan. Zhongjin Gold Mining Co advanced 2.22 percent to 50.54 yuan.
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