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Shanghai shares up slightly in morning trading
By Ye Zhen |
March 22, 2013, Friday
|
Online Edition
Online Edition
SHANGHAI stocks edged up this morning, led up by cement producers as uncertainty over economic recovery eased.
The benchmark Shanghai Composite Index added 0.13 percent to 2,327.32 points. Turnover was 48.4 billion yuan (US$7.8 billion) by the noon break.
"Uncertainty over the strength of China's economic rebound has been alleviated after the HSBC Flash China Purchasing Managers' Index posted a significant increase," Northeast Securities Co said in a note today. "The stock market is likely to see a new round of growth."
Cement producers gained the most. Anhui Conch Cement Co, China's biggest cement producer, rose 2 percent to 17.96 yuan. Gansu Qilianshan Cement Group Co added 2.1 percent to 11.04 yuan. Shaanxi Qinling Cement (Group) Co climbed 4.1 percent to 6.34 yuan.
Most lenders advanced. Industrial Bank Co gained 1.3 percent to 20.33 yuan. Bank of Nanjing Co added 1.7 percent to 9.75 yuan. But Shanghai Pudong Development Bank lost 0.54 percent to 11.04 yuan and China CITIC Bank Corp slipped 1.5 percent to 5.32 yuan.
PetroChina Co shed 0.2 percent to 8.91 yuan after posting a 13.3 percent decrease in last year's net profit. Sinopec advanced 2.3 percent to 7.69 yuan.
The benchmark Shanghai Composite Index added 0.13 percent to 2,327.32 points. Turnover was 48.4 billion yuan (US$7.8 billion) by the noon break.
"Uncertainty over the strength of China's economic rebound has been alleviated after the HSBC Flash China Purchasing Managers' Index posted a significant increase," Northeast Securities Co said in a note today. "The stock market is likely to see a new round of growth."
Cement producers gained the most. Anhui Conch Cement Co, China's biggest cement producer, rose 2 percent to 17.96 yuan. Gansu Qilianshan Cement Group Co added 2.1 percent to 11.04 yuan. Shaanxi Qinling Cement (Group) Co climbed 4.1 percent to 6.34 yuan.
Most lenders advanced. Industrial Bank Co gained 1.3 percent to 20.33 yuan. Bank of Nanjing Co added 1.7 percent to 9.75 yuan. But Shanghai Pudong Development Bank lost 0.54 percent to 11.04 yuan and China CITIC Bank Corp slipped 1.5 percent to 5.32 yuan.
PetroChina Co shed 0.2 percent to 8.91 yuan after posting a 13.3 percent decrease in last year's net profit. Sinopec advanced 2.3 percent to 7.69 yuan.
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