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Steel and cement makers power morning market
By Ding Yining |
July 29, 2010, Thursday
|
Online Edition
Online Edition
SHANGHAI'S market closed higher in the morning session after steel producers and cement makers gained.
The benchmark Shanghai Composite Index was up 0.51 percent, or 13.50 points, to close at 2,647.17 points. Turnover was 48 billion yuan (US$7 billion).
The Shenzhen Composite Index, which tracks the smaller domestic market, edged up 0.33 percent to close at 1,075.47 points.
Baoshan Iron & Steel Co, the country's largest steel maker, surged 3.43 percent to 6.63 yuan. Wuhan Iron & Steel hiked 4.19 percent to 4.97 yuan. Maanshan Iron & Steel jumped 4.10 percent to 8.88 yuan.
Airlines lowered from yesterday's hike. China Eastern Airlines was down 0.37 percent to 8.11 yuan. Air China lost 0.95 percent to 12.45 yuan. Hainan Airlines dipped 0.17 percent to 6.03 yuan.
Banks also lifted the index. Bank of Communications jumped 1.57 percent to 6.45 yuan. Shanghai Pudong Development Bank rose 1.51 percent to 14.83 yuan. China Merchants Bank added 1.49 percent to 14.32 yuan.
China Petroleum & Chemical Corp, Asia's largest refiner and also known as Sinopec, rose 1.37 percent to 8.88 yuan. PetroChina added 1.22 percent to 10.79 yuan.
Real estate developers showed mixed results after yesterday's hike. Shanghai Shimao Co was down 0.97 percent to 14.34 yuan. China Vanke Co edged up 0.12 percent to 8.32 yuan. Gemdale Corporation lost 0.98 percent to 7.07 yuan.
Anhui Conch, the country's largest cement maker, gained 2.40 percent to 20.05 yuan. Gansu Qilianshan Cement Group Co hiked 5.44 percent to 16.27 yuan.
Metal companies are also among the gainers. Yunnan Copper rose 0.44 percent to 20.38 yuan. Ningbo Fubang Jingye Group advanced 2.03 percent to 8.05 yuan.
The benchmark Shanghai Composite Index was up 0.51 percent, or 13.50 points, to close at 2,647.17 points. Turnover was 48 billion yuan (US$7 billion).
The Shenzhen Composite Index, which tracks the smaller domestic market, edged up 0.33 percent to close at 1,075.47 points.
Baoshan Iron & Steel Co, the country's largest steel maker, surged 3.43 percent to 6.63 yuan. Wuhan Iron & Steel hiked 4.19 percent to 4.97 yuan. Maanshan Iron & Steel jumped 4.10 percent to 8.88 yuan.
Airlines lowered from yesterday's hike. China Eastern Airlines was down 0.37 percent to 8.11 yuan. Air China lost 0.95 percent to 12.45 yuan. Hainan Airlines dipped 0.17 percent to 6.03 yuan.
Banks also lifted the index. Bank of Communications jumped 1.57 percent to 6.45 yuan. Shanghai Pudong Development Bank rose 1.51 percent to 14.83 yuan. China Merchants Bank added 1.49 percent to 14.32 yuan.
China Petroleum & Chemical Corp, Asia's largest refiner and also known as Sinopec, rose 1.37 percent to 8.88 yuan. PetroChina added 1.22 percent to 10.79 yuan.
Real estate developers showed mixed results after yesterday's hike. Shanghai Shimao Co was down 0.97 percent to 14.34 yuan. China Vanke Co edged up 0.12 percent to 8.32 yuan. Gemdale Corporation lost 0.98 percent to 7.07 yuan.
Anhui Conch, the country's largest cement maker, gained 2.40 percent to 20.05 yuan. Gansu Qilianshan Cement Group Co hiked 5.44 percent to 16.27 yuan.
Metal companies are also among the gainers. Yunnan Copper rose 0.44 percent to 20.38 yuan. Ningbo Fubang Jingye Group advanced 2.03 percent to 8.05 yuan.
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