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Shares edge up on commodity rebound
By Feng Jianmin |
September 28, 2011, Wednesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index rose slightly in the morning session led by commodity producers as metal prices rebounded.
The benchmark Shanghai Composite Index edged up 0,18 percent to 2,419.39 points. Turnover fell to 27.8 billion yuan (US$4.4 billion) from yesterday morning's 28.3 billion yuan.
Commodity producers gained after copper prices jumped 4.5 percent in London and gold bullion prices climbed 3.6 percent in New York.
Jiangxi Copper Co rose 2 percent to 27.56 yuan. Shandong Gold Mining Co added 1 percent to 40.49 yuan.
Railway-related shares dropped after the Ministry of Railway today announced a decision to postpone the sale of 20 billion yuan's corporate bonds until October 21 due to tight market liquidity.
Concerns over railway safety intensified after two underground trains collided in Shanghai yesterday, injuring 271. The signaling system provider, Casco Signal Ltd, was also blamed for causing the fatal bullet train collision in Wenzhou on July 23, killing 40.
Shanghai Shentong Metro Co, a listed unit of Shanghai's metro operator, fell 1.3 percent to 8.64 yuan. China Railway Construction Corp lost 0.9 percent to 4.44 yuan.
The benchmark Shanghai Composite Index edged up 0,18 percent to 2,419.39 points. Turnover fell to 27.8 billion yuan (US$4.4 billion) from yesterday morning's 28.3 billion yuan.
Commodity producers gained after copper prices jumped 4.5 percent in London and gold bullion prices climbed 3.6 percent in New York.
Jiangxi Copper Co rose 2 percent to 27.56 yuan. Shandong Gold Mining Co added 1 percent to 40.49 yuan.
Railway-related shares dropped after the Ministry of Railway today announced a decision to postpone the sale of 20 billion yuan's corporate bonds until October 21 due to tight market liquidity.
Concerns over railway safety intensified after two underground trains collided in Shanghai yesterday, injuring 271. The signaling system provider, Casco Signal Ltd, was also blamed for causing the fatal bullet train collision in Wenzhou on July 23, killing 40.
Shanghai Shentong Metro Co, a listed unit of Shanghai's metro operator, fell 1.3 percent to 8.64 yuan. China Railway Construction Corp lost 0.9 percent to 4.44 yuan.
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