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Shanghai stock index barely moves in the morning
By Ding Yining |
March 5, 2010, Friday
|
Online Edition
Online Edition
SHANGHAI'S major stock index remained almost unchanged in the morning session, as property developers dropped while brokerages added.
The benchmark Shanghai Composite Index edged up 0.07 percent, or 2.16 points, to close at 3,025.53 points. Turnover was 57.9 billion yuan(US$8.5 billion). Losers outnumbered gainers 437 to 406, and 73 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, dipped 0.05 percent to close at 1,157.84 points.
FAW Car Co said its profit in 2009 rose 50 percent to 1.63 billion yuan and sales increased 37 percent. Its shares hiked 5.53 percent to 23.29 yuan.
Banks showed mixed results. Bank of Communications dipped 0.12 percent to 8.14 yuan. China Construction Bank edged up 0.18 percent to 5.60 yuan. Industrial & Commercial Bank of China, the nation's biggest lender, was up 0.41 percent to 4.86 yuan.
Property shares lost among concerns there will be stricter rules to curb housing price hikes. China Vanke Co, the biggest listed domestic real estate developer, lost 0.53 percent to 9.34 yuan. Gemdale Corporation dropped 0.88 percent to 12.42 yuan.
Brokerages were among the gainers after China Securities Regulatory Commission Chairman Shang Fulin told the China Securities Journal that index futures may be launched in the middle of April. Haitong Securities added 1.80 percent to 16.97 yuan. Everbright Securities advanced 3.69 percent to 27.25 yuan.
Laiwu Steel Co said its output of 2010 may add 6 percent from that in 2009 to 6.31 million tons. Its shares added 1.04 percent to 11.65 yuan.
Metal suppliers ended mixed. Yunnan Copper Co edged up 0.97 percent to 26.10 yuan. Jiangxi Copper rose 0.98 percent to 35.97 yuan. Zijin Mining Co lost 0.24 percent to 8.37 yuan.
The benchmark Shanghai Composite Index edged up 0.07 percent, or 2.16 points, to close at 3,025.53 points. Turnover was 57.9 billion yuan(US$8.5 billion). Losers outnumbered gainers 437 to 406, and 73 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, dipped 0.05 percent to close at 1,157.84 points.
FAW Car Co said its profit in 2009 rose 50 percent to 1.63 billion yuan and sales increased 37 percent. Its shares hiked 5.53 percent to 23.29 yuan.
Banks showed mixed results. Bank of Communications dipped 0.12 percent to 8.14 yuan. China Construction Bank edged up 0.18 percent to 5.60 yuan. Industrial & Commercial Bank of China, the nation's biggest lender, was up 0.41 percent to 4.86 yuan.
Property shares lost among concerns there will be stricter rules to curb housing price hikes. China Vanke Co, the biggest listed domestic real estate developer, lost 0.53 percent to 9.34 yuan. Gemdale Corporation dropped 0.88 percent to 12.42 yuan.
Brokerages were among the gainers after China Securities Regulatory Commission Chairman Shang Fulin told the China Securities Journal that index futures may be launched in the middle of April. Haitong Securities added 1.80 percent to 16.97 yuan. Everbright Securities advanced 3.69 percent to 27.25 yuan.
Laiwu Steel Co said its output of 2010 may add 6 percent from that in 2009 to 6.31 million tons. Its shares added 1.04 percent to 11.65 yuan.
Metal suppliers ended mixed. Yunnan Copper Co edged up 0.97 percent to 26.10 yuan. Jiangxi Copper rose 0.98 percent to 35.97 yuan. Zijin Mining Co lost 0.24 percent to 8.37 yuan.
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