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Shanghai shares rise on strong US job data
By Feng Jianmin |
September 6, 2010, Monday
|
Online Edition
Online Edition
SHANGHAI'S key stock index went up in the morning session after positive US job data eased economic worries.
The benchmark Shanghai Composite rose 1 percent, or 26 points, to close at 2,681.46 points. Turnover grew to 88 billion yuan (US$ 12.9 billion) from last Friday morning's 81 billion yuan.
The Shenzhen Composite Index, which tracks the smaller domestic market, was almost unchanged at 1,178.04 points.
Metal producers gained. Jiangxi Copper Co, the nation's biggest producer of the metal, advanced 3.5 percent to 32.19 yuan. Aluminum Corp of China, the nation's biggest maker of the lightweight metal and also called Chalco, grew 2.09 percent to 10.28 yuan. Tongling Nonferrous Metals Group Co added 1.83 percent to 17.80 yuan.
Insurers grew after China approved insurers to hold stakes and to invest in non-residential property assets of privately-held companies to reduce investment risks.
China Life Insurance Co, the country's largest life insurance company, went up 1.8 percent to 22.58 yuan. China Pacific Insurance Co rose 2.89 percent to 23.85 yuan. Ping An Insurance Co climbed 3.52 percent to 50.59 yuan.
Property developers advanced. China Vanke rose 2.24 percent to 8.69 yuan. Gemdale Corp added 1 percent to 6.54 yuan. Shanghai Lujiazui Finance & Trade Zone Development Co edged up 0.66 percent to 18.25 yuan.
The benchmark Shanghai Composite rose 1 percent, or 26 points, to close at 2,681.46 points. Turnover grew to 88 billion yuan (US$ 12.9 billion) from last Friday morning's 81 billion yuan.
The Shenzhen Composite Index, which tracks the smaller domestic market, was almost unchanged at 1,178.04 points.
Metal producers gained. Jiangxi Copper Co, the nation's biggest producer of the metal, advanced 3.5 percent to 32.19 yuan. Aluminum Corp of China, the nation's biggest maker of the lightweight metal and also called Chalco, grew 2.09 percent to 10.28 yuan. Tongling Nonferrous Metals Group Co added 1.83 percent to 17.80 yuan.
Insurers grew after China approved insurers to hold stakes and to invest in non-residential property assets of privately-held companies to reduce investment risks.
China Life Insurance Co, the country's largest life insurance company, went up 1.8 percent to 22.58 yuan. China Pacific Insurance Co rose 2.89 percent to 23.85 yuan. Ping An Insurance Co climbed 3.52 percent to 50.59 yuan.
Property developers advanced. China Vanke rose 2.24 percent to 8.69 yuan. Gemdale Corp added 1 percent to 6.54 yuan. Shanghai Lujiazui Finance & Trade Zone Development Co edged up 0.66 percent to 18.25 yuan.
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