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Stocks jump most in 10 months
By Feng Jianmin |
August 25, 2011, Thursday
|
Online Edition
Online Edition
Shanghai's key stock index jumped the most in 10 months on strong earnings reports.
The benchmark Shanghai Composite Index was up 2.92 percent to 2,615.26 points. Turnover was 106 billion yuan (US$16.6 billion).
Across the Asian region markets rose today taking its cue from a strong US market overnight after worries of another recession eased on rising orders of durable goods.
Hong Kong's Hang Seng Index rose 1.55 percent to 19,768.54 points, while Japan's Nikkei 225 gained 1.54 percent.
Banks rose after the Bank of China, the country's third-largest bank, reported that its profit during the first half jumped 28 percent. The bank's share rose 2.4 percent to 3.02 yuan.
Everbright Securities surged 6.8 percent, leading a jump of brokerages, after it said first-half profit rose 36.3 percent from a year earlier.
Tianjin Capital Environmental Protection Group Co led a surge in the environment sector after Shanghai Securities News reported that China plans to spend over 2.3 trillion yuan on new subway lines and sewage treatment. Its shares surged 10 percent to 6.16 yuan. Zhongyuan Environment-Protection Co rose 3 percent to 10.61 yuan.
Gold-related shares slumped after gold prices shed 5.6 percent to US$1,757.3 per ounce in New York yesterday.
The benchmark Shanghai Composite Index was up 2.92 percent to 2,615.26 points. Turnover was 106 billion yuan (US$16.6 billion).
Across the Asian region markets rose today taking its cue from a strong US market overnight after worries of another recession eased on rising orders of durable goods.
Hong Kong's Hang Seng Index rose 1.55 percent to 19,768.54 points, while Japan's Nikkei 225 gained 1.54 percent.
Banks rose after the Bank of China, the country's third-largest bank, reported that its profit during the first half jumped 28 percent. The bank's share rose 2.4 percent to 3.02 yuan.
Everbright Securities surged 6.8 percent, leading a jump of brokerages, after it said first-half profit rose 36.3 percent from a year earlier.
Tianjin Capital Environmental Protection Group Co led a surge in the environment sector after Shanghai Securities News reported that China plans to spend over 2.3 trillion yuan on new subway lines and sewage treatment. Its shares surged 10 percent to 6.16 yuan. Zhongyuan Environment-Protection Co rose 3 percent to 10.61 yuan.
Gold-related shares slumped after gold prices shed 5.6 percent to US$1,757.3 per ounce in New York yesterday.
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