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Stocks gain on hopeful inflation outlook
By Ding Yining |
October 13, 2011, Thursday
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Online Edition
Online Edition
THE Shanghai stock market rose for a third day to close 0.78 percent higher today among anticipation that September's macroeconomic figures set to be released tomorrow will help ease inflationary concerns.
The benchmark Shanghai Composite Index added 18.79 points to close at 2,438.79 points. Turnover almost remained unchanged at 82.2 billion yuan (US$12.9 billion) compared with yesterday's 84.4 billion yuan.
The ChiNext Index, a NASDAQ-like index which tracks start-up companies with an average market value of 4.4 billion yuan, jumped 2.07 percent to 833.02.
Property developers were among the gainers. Gemdale Corporation added 1.65 percent to 4.93 yuan. Shanghai Shimao Co rose 1.91 percent to 11.73 yuan.
Metal producers also pushed up the index. Shandong Gold Mining Co 2.15 percent to 28.06 yuan. Yunnan Copper Co rose 1.36 percent to 18.60 yuan.
The benchmark Shanghai Composite Index added 18.79 points to close at 2,438.79 points. Turnover almost remained unchanged at 82.2 billion yuan (US$12.9 billion) compared with yesterday's 84.4 billion yuan.
The ChiNext Index, a NASDAQ-like index which tracks start-up companies with an average market value of 4.4 billion yuan, jumped 2.07 percent to 833.02.
Property developers were among the gainers. Gemdale Corporation added 1.65 percent to 4.93 yuan. Shanghai Shimao Co rose 1.91 percent to 11.73 yuan.
Metal producers also pushed up the index. Shandong Gold Mining Co 2.15 percent to 28.06 yuan. Yunnan Copper Co rose 1.36 percent to 18.60 yuan.
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