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Shanghai stocks jump to 7-month high
By Ding Yining |
November 4, 2010, Thursday
|
Online Edition
Online Edition
SHANGHAI'S key stock index advanced nearly 2 percent to close at the highest level in nearly 7 months as coal producers and metal companies led the gains.
The benchmark Shanghai Composite Index jumped 1.85 percent, or 55.95 points, to close at 3,086.94 points. Turnover stood at 228.1 billion yuan (US$34.6 billion). A total of 826 shares rose while only 60 dropped and 33 remained unchanged.
Datong Coal Industry Co rose 2.39 percent to 25.29 yuan. Anhui Hengyuan Coal Industry and Electricity Power Co rallied 4.88 percent to 47.25 yuan.
Zhongjin Gold Co added 2.12 percent to 45.22 yuan. Aluminum Corporation of China Ltd edged up 1.37 percent to 12.56 yuan.
Banks and insurers saw mild gains. China Pacific Insurance (Group) Co Ltd was up 1.50 percent to 26.39 yuan. Agricultural Bank of China edged up 0.71 percent to 2.84 yuan. Bank of Communications was up 0.48 percent to 6.24 yuan.
Airlines also pushed up the index. China Eastern Airlines rallied 4.07 percent to 8.94 yuan. Hainan Airlines surged 9.01 percent to 8.95 yuan. Air China advanced 2.84 percent to 15.23 yuan.
Property developers showed mixed results. China Vanke, China's largest developer, was down 0.91 percent to 9.75 yuan. Poly Real Estate Co dipped 0.41 percent to 14.52 yuan. Jilin Guanghua Holdings Group rose 2.74 percent to 16.86 yuan. Shanghai Jielong Industry Group Co was up 1.57 percent to 14.92 yuan.
The benchmark Shanghai Composite Index jumped 1.85 percent, or 55.95 points, to close at 3,086.94 points. Turnover stood at 228.1 billion yuan (US$34.6 billion). A total of 826 shares rose while only 60 dropped and 33 remained unchanged.
Datong Coal Industry Co rose 2.39 percent to 25.29 yuan. Anhui Hengyuan Coal Industry and Electricity Power Co rallied 4.88 percent to 47.25 yuan.
Zhongjin Gold Co added 2.12 percent to 45.22 yuan. Aluminum Corporation of China Ltd edged up 1.37 percent to 12.56 yuan.
Banks and insurers saw mild gains. China Pacific Insurance (Group) Co Ltd was up 1.50 percent to 26.39 yuan. Agricultural Bank of China edged up 0.71 percent to 2.84 yuan. Bank of Communications was up 0.48 percent to 6.24 yuan.
Airlines also pushed up the index. China Eastern Airlines rallied 4.07 percent to 8.94 yuan. Hainan Airlines surged 9.01 percent to 8.95 yuan. Air China advanced 2.84 percent to 15.23 yuan.
Property developers showed mixed results. China Vanke, China's largest developer, was down 0.91 percent to 9.75 yuan. Poly Real Estate Co dipped 0.41 percent to 14.52 yuan. Jilin Guanghua Holdings Group rose 2.74 percent to 16.86 yuan. Shanghai Jielong Industry Group Co was up 1.57 percent to 14.92 yuan.
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