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Shanghai shares rise on stronger banks and insurers
By Feng Jianmin |
June 24, 2010, Thursday
|
Online Edition
Online Edition
SHANGHAI stocks rose in the morning session, led by banks and insurers.
The benchmark Shanghai Composite Index edged up 0.38 percent, or nearly 10 points, to close at 2579.75. Turnover dropped to 26.4 billion yuan (US$ 3.9 billion) from yesterday's 31.9 billion yuan.
The Shenzhen Composite Index, which covers the smaller mainland exchange, added 0.58 percent to 1051.24 points.
Most banks went up. Bank of Communications added 2.42 percent to 6.36 yuan. Industrial and Commercial Bank of China grew 0.71 percent to 4.27 yuan. Bank of China edged up 0.28 percent to 3.56 yuan.
Insurers led the gainers after the China Insurance Regulatory Commission said Chinese insurance premiums rose 36 percent in the first five months of this year.
China Life Insurance Co rose 1.75 percent to 25.02 yuan. China Pacific Insurance (Group) Co climbed 3.14 percent to 23.35 yuan. Ping An Insurance (Group) Co added 1.78 percent to 47.59 yuan.
The benchmark Shanghai Composite Index edged up 0.38 percent, or nearly 10 points, to close at 2579.75. Turnover dropped to 26.4 billion yuan (US$ 3.9 billion) from yesterday's 31.9 billion yuan.
The Shenzhen Composite Index, which covers the smaller mainland exchange, added 0.58 percent to 1051.24 points.
Most banks went up. Bank of Communications added 2.42 percent to 6.36 yuan. Industrial and Commercial Bank of China grew 0.71 percent to 4.27 yuan. Bank of China edged up 0.28 percent to 3.56 yuan.
Insurers led the gainers after the China Insurance Regulatory Commission said Chinese insurance premiums rose 36 percent in the first five months of this year.
China Life Insurance Co rose 1.75 percent to 25.02 yuan. China Pacific Insurance (Group) Co climbed 3.14 percent to 23.35 yuan. Ping An Insurance (Group) Co added 1.78 percent to 47.59 yuan.
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