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Ship builders and metal firms rise in Shanghai
By Feng Jianmin |
May 9, 2011, Monday
|
Online Edition
Online Edition
SHANGHAI'S stocks market edged up slightly in the morning, led by ship makers and metal producers.
The Shanghai Composite Index was up 0.37 percent, or 10.6 points, to close at 2874.48. Turnover fell to 52.5 billion yuan (US$8.1 billion) from last Friday's 57.6 billion yuan.
Ship makers rallied after Li Dong, an official with China's Ministry of Industry and Information Technology, said that China has been the largest shipyard in the world since 2010.
Jiangnan Heavy Industry jumped 4 percent to 22.80 yuan. Guangzhou Shipyard International Co rose 2.9 percent to 70.44 yuan.
Metal and gold producers rebounded after commodity prices were stabling. Shandong Gold Mining Co added 1.2 percent to 46.10 yuan. Jiangxi Copper Co, China's largest producer of the metal, was up 0.7 percent to 33.90 yuan.
Banks were mixed. Agricultural Bank of China fell 1 percent to 2.89 yuan. Industrial and Commercial Bank of China edged up 0.2 percent to 4.59 yuan.
The Shanghai Composite Index was up 0.37 percent, or 10.6 points, to close at 2874.48. Turnover fell to 52.5 billion yuan (US$8.1 billion) from last Friday's 57.6 billion yuan.
Ship makers rallied after Li Dong, an official with China's Ministry of Industry and Information Technology, said that China has been the largest shipyard in the world since 2010.
Jiangnan Heavy Industry jumped 4 percent to 22.80 yuan. Guangzhou Shipyard International Co rose 2.9 percent to 70.44 yuan.
Metal and gold producers rebounded after commodity prices were stabling. Shandong Gold Mining Co added 1.2 percent to 46.10 yuan. Jiangxi Copper Co, China's largest producer of the metal, was up 0.7 percent to 33.90 yuan.
Banks were mixed. Agricultural Bank of China fell 1 percent to 2.89 yuan. Industrial and Commercial Bank of China edged up 0.2 percent to 4.59 yuan.
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