Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Related News
Shanghai shares rise nearly 2% to start week
By Joyce Pan |
July 27, 2009, Monday
|
Online Edition
Online Edition
SHANGHAI'S key stock index rose nearly 2 percent today after the central government reiterated its easy monetary policy would continue.
The benchmark Shanghai Composite Index was up 1.86 percent, or 62.61 points, to close at 3,435.21 points. Turnover rose slightly to 240.6 billion (US$35.38 billion) from 223.6 billion yuan on Friday. Gainers outnumbered losers 754 to 106 and 12 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, rose 1.85 percent to close at 1,126.01 points.
"The market opened higher in the wake of rallies in other markets. The swelling turnover reflected affluent liquidity under the monetary policy despite the accelerating pace of initial public offerings," said Wen Lijun, an analyst from Nanjing Securities Co.
"The barometer still has the momentum to move upward with turnover standing at a relatively high level," said Wen.
Metal producers led gains on speculation government stimulus spending will boost demand for metals. Aluminum Corporation of China Ltd surged 8.05 percent to 19.33 yuan. Yunnan Copper, the country's third-biggest smelter of the metal, climbed the 10 percent daily cap to 34.87 yuan. Jiangxi Copper Co gained 5.73 percent to 49.05 yuan.
Baoshan Iron & Steel Co, the nation's biggest steel maker, added 5.49 percent to 8.65 yuan. Anyang Iron & Steel Inc jumped 9.23 percent to 6.39 yuan. Wuhan Iron and Steel Co was up 6.32 percent to 10.6 yuan. Handan Iron & Steel Co rose 4.85 percent to 7.13 yuan.
Brokerages were strong on news Everbright Securities had its initial public offering approved by the country's securities watchdog. CITIC Securities Co edged up 4.84 percent to 36.38 yuan. Haitong Securities Co increased 2.8 percent to 19.11 yuan. Pacific Securities Co expanded 2.08 percent to 20.66 yuan.
Sichuan Expressway, a toll-road operator, jumped 174.72 percent from its offer price in Shanghai's first initial public offering since regulators lifted a nine-month moratorium on IPOs in June.
The benchmark Shanghai Composite Index was up 1.86 percent, or 62.61 points, to close at 3,435.21 points. Turnover rose slightly to 240.6 billion (US$35.38 billion) from 223.6 billion yuan on Friday. Gainers outnumbered losers 754 to 106 and 12 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, rose 1.85 percent to close at 1,126.01 points.
"The market opened higher in the wake of rallies in other markets. The swelling turnover reflected affluent liquidity under the monetary policy despite the accelerating pace of initial public offerings," said Wen Lijun, an analyst from Nanjing Securities Co.
"The barometer still has the momentum to move upward with turnover standing at a relatively high level," said Wen.
Metal producers led gains on speculation government stimulus spending will boost demand for metals. Aluminum Corporation of China Ltd surged 8.05 percent to 19.33 yuan. Yunnan Copper, the country's third-biggest smelter of the metal, climbed the 10 percent daily cap to 34.87 yuan. Jiangxi Copper Co gained 5.73 percent to 49.05 yuan.
Baoshan Iron & Steel Co, the nation's biggest steel maker, added 5.49 percent to 8.65 yuan. Anyang Iron & Steel Inc jumped 9.23 percent to 6.39 yuan. Wuhan Iron and Steel Co was up 6.32 percent to 10.6 yuan. Handan Iron & Steel Co rose 4.85 percent to 7.13 yuan.
Brokerages were strong on news Everbright Securities had its initial public offering approved by the country's securities watchdog. CITIC Securities Co edged up 4.84 percent to 36.38 yuan. Haitong Securities Co increased 2.8 percent to 19.11 yuan. Pacific Securities Co expanded 2.08 percent to 20.66 yuan.
Sichuan Expressway, a toll-road operator, jumped 174.72 percent from its offer price in Shanghai's first initial public offering since regulators lifted a nine-month moratorium on IPOs in June.
- 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.
