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Shanghai shares rose on strong financials
By Ding Yining |
March 15, 2013, Friday
|
Online Edition
Online Edition
THE Shanghai stock rebounded the most in a week in the morning session to close above 2,300 points, led by strong railway transport companies and financials.
The benchmark Shanghai Composite Index climbed 1.65 percent, or 37.36 points, to 2,307.64 and turnover was 53 billion yuan(US$8.4 billion).
Railway construction and transport companies rose after China yesterday approved the establishment of China Railway Corp to replace the Railway Ministry and perform its commercial functions.
Daqin Railway Co increased 4.39 percent to 7.84 yuan. Guangshen Railway Co rose 3.36 percent to 3.08 yuan.
Financial shares were also strong in the morning session. Northeast Securities surged by hitting the 10 percent daily trading cap to 20.35 yuan. Haitong Securities, the country's second largest brokerage, added 3.24 percent to 11.48 yuan. Industrial Bank jumped 6.36 percent to 19.72 yuan.
Property shares were relatively week. Gemdale Corporation edged up 0.5 percent to 6.07 yuan.
The benchmark Shanghai Composite Index climbed 1.65 percent, or 37.36 points, to 2,307.64 and turnover was 53 billion yuan(US$8.4 billion).
Railway construction and transport companies rose after China yesterday approved the establishment of China Railway Corp to replace the Railway Ministry and perform its commercial functions.
Daqin Railway Co increased 4.39 percent to 7.84 yuan. Guangshen Railway Co rose 3.36 percent to 3.08 yuan.
Financial shares were also strong in the morning session. Northeast Securities surged by hitting the 10 percent daily trading cap to 20.35 yuan. Haitong Securities, the country's second largest brokerage, added 3.24 percent to 11.48 yuan. Industrial Bank jumped 6.36 percent to 19.72 yuan.
Property shares were relatively week. Gemdale Corporation edged up 0.5 percent to 6.07 yuan.
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