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Steel and banks fuel index gain
By Ding Yining |
July 29, 2010, Thursday
|
Online Edition
Online Edition
SHANGHAI'S stock market closed higher today after steel producers and banks gained.
The benchmark Shanghai Composite Index was up 0.55 percent to close at 2,648.12 points. The Shenzhen Composite Index, which tracks the smaller domestic market, edged up 0.46 percent to close at 1,076.88 points.
Baoshan Iron & Steel Co, the country's largest steel maker, surged 2.18 percent to 6.55 yuan (97 US cents). Wuhan Iron & Steel rose 3.14 percent to 4.92 yuan. Maanshan Iron & Steel jumped 2.25 percent to 3.63 yuan.
Airlines dropped from yesterday's gains. China Eastern Airlines was down 1.11 percent to 8.05 yuan. Air China lost 2.23 percent to 12.29 yuan. Hainan Airlines dipped 0.66 percent to 6 yuan.
Banks also lifted the index. Bank of Communications rose 0.77 percent to 6.58 yuan. Shanghai Pudong Development Bank edged up 0.07 percent to 15.08 yuan. China Merchants Bank added 0.48 percent to 14.54 yuan.
China Petroleum & Chemical Corp, Asia's largest refiner and also known as Sinopec, rose 1.14 percent to 8.86 yuan. PetroChina added 0.84 percent to 10.75 yuan.
Real estate developers lost after yesterday's advances. Shanghai Shimao Co was down 0.76 percent to 14.37 yuan. China Vanke Co edged down 0.12 percent to 8.30 yuan. Gemdale Corporation lost 0.42 percent to 7.11 yuan.
The benchmark Shanghai Composite Index was up 0.55 percent to close at 2,648.12 points. The Shenzhen Composite Index, which tracks the smaller domestic market, edged up 0.46 percent to close at 1,076.88 points.
Baoshan Iron & Steel Co, the country's largest steel maker, surged 2.18 percent to 6.55 yuan (97 US cents). Wuhan Iron & Steel rose 3.14 percent to 4.92 yuan. Maanshan Iron & Steel jumped 2.25 percent to 3.63 yuan.
Airlines dropped from yesterday's gains. China Eastern Airlines was down 1.11 percent to 8.05 yuan. Air China lost 2.23 percent to 12.29 yuan. Hainan Airlines dipped 0.66 percent to 6 yuan.
Banks also lifted the index. Bank of Communications rose 0.77 percent to 6.58 yuan. Shanghai Pudong Development Bank edged up 0.07 percent to 15.08 yuan. China Merchants Bank added 0.48 percent to 14.54 yuan.
China Petroleum & Chemical Corp, Asia's largest refiner and also known as Sinopec, rose 1.14 percent to 8.86 yuan. PetroChina added 0.84 percent to 10.75 yuan.
Real estate developers lost after yesterday's advances. Shanghai Shimao Co was down 0.76 percent to 14.37 yuan. China Vanke Co edged down 0.12 percent to 8.30 yuan. Gemdale Corporation lost 0.42 percent to 7.11 yuan.
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