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Stocks rise on IMF loan talks
By Feng Jianmin |
November 28, 2011, Monday
|
Online Edition
Online Edition
SHANGHAI'S key stock index edged up in the morning session on renewed optimism over Europe's debt crises – while the property sector fell on worries over tightening measures.
The benchmark Shanghai Composite Index rose 0.13 percent to 2,383.4 points. Turnover was 25.5 billion yuan (US$4 billion).
Property developers fell after China's Vice Premier Li Keqiang said over the weekend that China should insist on taking strict measures to control excessive growth in home prices, and push forward construction of affordable housing and public renting projects next year.
China Vanke fell 0.9 percent to 7.04 yuan. China Merchants Property Development Co lost 0.8 percent to 16.30 yuan.
Metal producers rose following a rebound of metal prices in Shanghai. The most traded copper futures price rose 2.1 percent and aluminum prices were up 0.4 percent on news that the International Monetary Fund is in talks to extend a 600 billion euro loan to Italy.
Jiangxi Copper Co was up 0.7 percent to 25.43 yuan. Aluminum Corp of China was unchanged at 7.92 yuan.
The benchmark Shanghai Composite Index rose 0.13 percent to 2,383.4 points. Turnover was 25.5 billion yuan (US$4 billion).
Property developers fell after China's Vice Premier Li Keqiang said over the weekend that China should insist on taking strict measures to control excessive growth in home prices, and push forward construction of affordable housing and public renting projects next year.
China Vanke fell 0.9 percent to 7.04 yuan. China Merchants Property Development Co lost 0.8 percent to 16.30 yuan.
Metal producers rose following a rebound of metal prices in Shanghai. The most traded copper futures price rose 2.1 percent and aluminum prices were up 0.4 percent on news that the International Monetary Fund is in talks to extend a 600 billion euro loan to Italy.
Jiangxi Copper Co was up 0.7 percent to 25.43 yuan. Aluminum Corp of China was unchanged at 7.92 yuan.
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