Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Related News
Stocks rise on declining consumer and producer prices
By Ding Yining |
February 10, 2009, Tuesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index closed higher today as falling consumer and producer prices will allow more leeway for a loose macroeconomic policy.
The benchmark Shanghai Composite Index advanced 1.8 percent, or 40.45 points, to close at 2,265.16 points. Turnover was 135.6 billion yuan (US$19.8 billion). Gainers outnumbered losers 707 to 151 while 50 stocks did not change.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 2.63 percent, or 18.34 points, to close at 714.67 points.
Consumer Price Index increased 1 percent last month on year, the slowest pace in 30 months, the National Bureau of Statistics said this morning. The Producer Price Index dropped 3.3 percent in January on year, its fifth consecutive monthly decline.
"It's very likely the index will climb above 2,300 points in the middle or long term, but a fluctuation in the near future is inevitable after several days of gains as investors will take profits," according to a research note by Shenyin & Wanguo Securities.
PetroChina, the biggest component index, increased 4.86 percent to 11.67 yuan. China Petroleum & Chemical Corp, Asia's largest refiner, advanced 3.25 percent to 8.89 yuan.
Banks were weak among speculation lower interest rates would reduce profits. Bank of Communications was down 1.97 percent to 5.98 yuan. Shanghai Pudong Development Bank dipped 0.22 percent to 17.75 yuan. Industrial and Commercial Bank of China, the nation's biggest listed lender, dipped 0.51 percent to 3.91 yuan. Bank of China edged up 0.30 percent to 3.29 yuan.
Real estate developers gained since lower loan rates may push property sales. China Vanke Co, the nation's biggest listed developer, jumped 3.04 percent to 8.14 yuan. Gemdale Corporation increased 3.11 percent to 8.96 yuan.
China Life Insurance Co, the nation's biggest insurer, said its parent company plans to inject 2 billion yuan into China Life Asset Management Co to bolster the joint venture. The stock dipped 0.27 percent to 22.32 yuan.
The benchmark Shanghai Composite Index advanced 1.8 percent, or 40.45 points, to close at 2,265.16 points. Turnover was 135.6 billion yuan (US$19.8 billion). Gainers outnumbered losers 707 to 151 while 50 stocks did not change.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 2.63 percent, or 18.34 points, to close at 714.67 points.
Consumer Price Index increased 1 percent last month on year, the slowest pace in 30 months, the National Bureau of Statistics said this morning. The Producer Price Index dropped 3.3 percent in January on year, its fifth consecutive monthly decline.
"It's very likely the index will climb above 2,300 points in the middle or long term, but a fluctuation in the near future is inevitable after several days of gains as investors will take profits," according to a research note by Shenyin & Wanguo Securities.
PetroChina, the biggest component index, increased 4.86 percent to 11.67 yuan. China Petroleum & Chemical Corp, Asia's largest refiner, advanced 3.25 percent to 8.89 yuan.
Banks were weak among speculation lower interest rates would reduce profits. Bank of Communications was down 1.97 percent to 5.98 yuan. Shanghai Pudong Development Bank dipped 0.22 percent to 17.75 yuan. Industrial and Commercial Bank of China, the nation's biggest listed lender, dipped 0.51 percent to 3.91 yuan. Bank of China edged up 0.30 percent to 3.29 yuan.
Real estate developers gained since lower loan rates may push property sales. China Vanke Co, the nation's biggest listed developer, jumped 3.04 percent to 8.14 yuan. Gemdale Corporation increased 3.11 percent to 8.96 yuan.
China Life Insurance Co, the nation's biggest insurer, said its parent company plans to inject 2 billion yuan into China Life Asset Management Co to bolster the joint venture. The stock dipped 0.27 percent to 22.32 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.
