Stocks reach seven-week high
By Hu Xiaocen |
May 5, 2012, Saturday
|
Print Edition
Print Edition
SHANGHAI stocks advanced to a seven-week high yesterday after the Chinese central bank executed seven-day reverse repurchase agreements to boost market liquidity.
The Shanghai Composite Index added 0.49 percent to 2,452.01 points yesterday. The index gained 2.3 percent this week, the biggest weekly gain since February.
The People's Bank of China injected 65 billion yuan (US$10.3 billion) into the interbank market on Thursday through the reverse repurchase deals with selected banks. Under such arrangements, the central bank lends the capital to banks with their bills as collateral.
"Improving liquidity is the fundamental force that pulls up stock valuations," Central China Securities said in a report yesterday. "Fiscal deposits dropped and a number of government investment projects started in April, indicating a stabilizing economy. Therefore the A-share market rally will likely continue."
Lenders advanced on improved market outlook. The Industrial and Commercial Bank of China, the nation's biggest lender, gained 0.5 percent to 4.38 yuan. China Construction Bank added 0.6 percent to 4.76 yuan.
The Shanghai Composite Index added 0.49 percent to 2,452.01 points yesterday. The index gained 2.3 percent this week, the biggest weekly gain since February.
The People's Bank of China injected 65 billion yuan (US$10.3 billion) into the interbank market on Thursday through the reverse repurchase deals with selected banks. Under such arrangements, the central bank lends the capital to banks with their bills as collateral.
"Improving liquidity is the fundamental force that pulls up stock valuations," Central China Securities said in a report yesterday. "Fiscal deposits dropped and a number of government investment projects started in April, indicating a stabilizing economy. Therefore the A-share market rally will likely continue."
Lenders advanced on improved market outlook. The Industrial and Commercial Bank of China, the nation's biggest lender, gained 0.5 percent to 4.38 yuan. China Construction Bank added 0.6 percent to 4.76 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.
