Related News
Stocks edge up on upbeat EU summit outlook
By Lu Nengneng |
December 7, 2011, Wednesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index rose slightly in the morning as investors stayed upbeat about the upcoming European Union leaders' summit and China's consumer price index release.
The Shanghai Composite Index edged up 0.1 percent to end at 2,328.14 points by the noon break after two straight daily losses. Turnover stood at 20.5 billion yuan (US$ 3.22 billion).
Investors expected European leaders to make substantial progress in forming a closer fiscal union at the summit later this week to avoid an escalating and contagious debt crisis after Standard & Poor's warned of credit downgrades across the region on Monday.
Meanwhile, China's CPI for November, due on Friday, added to the market upside as the figure is anticipated to drop under 5 percent to the lowest level this year.
Financials led the advance in the morning session on speculation that the eased EU debt crisis and the curbed inflation may take pressure off liquidity, which is constrained by relatively tight monetary policies.
The Agricultural Bank of China gained 0.78 percent to 2.58 yuan. China Merchants Bank rose 1.02 percent to 11.88 yuan. Ping An Insurance Group jumped 1.63 percent to 37.42 yuan.
The Shanghai Composite Index edged up 0.1 percent to end at 2,328.14 points by the noon break after two straight daily losses. Turnover stood at 20.5 billion yuan (US$ 3.22 billion).
Investors expected European leaders to make substantial progress in forming a closer fiscal union at the summit later this week to avoid an escalating and contagious debt crisis after Standard & Poor's warned of credit downgrades across the region on Monday.
Meanwhile, China's CPI for November, due on Friday, added to the market upside as the figure is anticipated to drop under 5 percent to the lowest level this year.
Financials led the advance in the morning session on speculation that the eased EU debt crisis and the curbed inflation may take pressure off liquidity, which is constrained by relatively tight monetary policies.
The Agricultural Bank of China gained 0.78 percent to 2.58 yuan. China Merchants Bank rose 1.02 percent to 11.88 yuan. Ping An Insurance Group jumped 1.63 percent to 37.42 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
