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Shanghai shares rise on stronger output and spending
September 11, 2009, Friday
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SHANGHAI'S key stock index ended slightly higher in the morning session after China's top statistics bureau said growth of the nation's industrial production and investment accelerated last month.
The benchmark Shanghai Composite Index added 1.2 percent to 2,960 at the mid-day break. Turnover stood at 62.56 billion yuan (US$9.2 billion). Gainers outnumbered losers 779 to 68 and 23 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 1.41 percent to close at 1,014.75.
Banks extended 410.4 billion yuan (US$60.1 billion) in August, beating analysts' expectations of 300 billion yuan. It was up from 355.9 billion yuan in July and 271.54 billion yuan a year ago, the People's Bank of China said today.
Industrial output gained 12.3 percent last month from a year earlier, after climbing 10.8 percent in July, the National Bureau of Statistics said today.
Urban fixed-asset investment in the first eight months climbed 33 percent, it said. That was more than a 32.9 percent gain through July.
Industrial & Commercial Bank of China, the nation's biggest lender, edged up 0.82 percent to 4.94 yuan. Shanghai Pudong Development Bank advanced 2.74 percent at 20.28 yuan. China Construction Bank increased 1.39 percent to close at 5.846 yuan. Bank of Communications jumped 1.44 percent to 9.14 yuan.
The benchmark Shanghai Composite Index added 1.2 percent to 2,960 at the mid-day break. Turnover stood at 62.56 billion yuan (US$9.2 billion). Gainers outnumbered losers 779 to 68 and 23 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 1.41 percent to close at 1,014.75.
Banks extended 410.4 billion yuan (US$60.1 billion) in August, beating analysts' expectations of 300 billion yuan. It was up from 355.9 billion yuan in July and 271.54 billion yuan a year ago, the People's Bank of China said today.
Industrial output gained 12.3 percent last month from a year earlier, after climbing 10.8 percent in July, the National Bureau of Statistics said today.
Urban fixed-asset investment in the first eight months climbed 33 percent, it said. That was more than a 32.9 percent gain through July.
Industrial & Commercial Bank of China, the nation's biggest lender, edged up 0.82 percent to 4.94 yuan. Shanghai Pudong Development Bank advanced 2.74 percent at 20.28 yuan. China Construction Bank increased 1.39 percent to close at 5.846 yuan. Bank of Communications jumped 1.44 percent to 9.14 yuan.
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