Steel and property raise index
By Feng Jianmin and Ding Yining |
August 25, 2010, Wednesday
|
Print Edition
Print Edition
SHANGHAI'S key stock index ended slightly higher yesterday boosted by strong performance of steel makers and a rebound in the property sector.
The Shanghai Composite Index edged up 0.41 percent to close at 2,650.31. Turnover was 106.3 billion yuan (US$15.6 billion).
Steel makers rose on expectations construction of low-budget homes would quicken while overcapacity in the industry would ease.
Baoshan Iron and Steel Co gained 1.73 percent to 6.48 yuan, and Wuhan Steel and Iron Co climbed 3.18 percent to 4.87 yuan.
Also helping the index were the sterling financial results that companies have posted in the first half of the year. A total of 1,234 listed companies have reported an average 40 percent jump in net profits in the first six months, Securities Daily said yesterday.
But Qi Dapeng, an analyst at Xiangcai Securities, said the "strong performance of the blue chips will not last very long and market sentiment will stay flat as there is no sign of more stimulus measures in the near future."
Property firms gained. Gemdale Corp added 1.49 percent to 6.79 yuan and Poly Real Estate Co rose 2.27 percent to 12.59 yuan.
The Shanghai Composite Index edged up 0.41 percent to close at 2,650.31. Turnover was 106.3 billion yuan (US$15.6 billion).
Steel makers rose on expectations construction of low-budget homes would quicken while overcapacity in the industry would ease.
Baoshan Iron and Steel Co gained 1.73 percent to 6.48 yuan, and Wuhan Steel and Iron Co climbed 3.18 percent to 4.87 yuan.
Also helping the index were the sterling financial results that companies have posted in the first half of the year. A total of 1,234 listed companies have reported an average 40 percent jump in net profits in the first six months, Securities Daily said yesterday.
But Qi Dapeng, an analyst at Xiangcai Securities, said the "strong performance of the blue chips will not last very long and market sentiment will stay flat as there is no sign of more stimulus measures in the near future."
Property firms gained. Gemdale Corp added 1.49 percent to 6.79 yuan and Poly Real Estate Co rose 2.27 percent to 12.59 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
