Related News

HomeBusinessFinance

Stocks show minor lift early as brokerages, oil firms on the rise

SHANGHAI stocks were little changed, eking out a small increase in the morning session as brokerages and oil providers gained while media companies retreated.

The key Shanghai Composite Index added 0.03 percent to 2,203.42 points as of 11:30 am. Half-day turnover was 40.6 billion yuan (US$6.7 billion).

Brokerages advanced after the Economic Observer reported China’s top securities regulator tomorrow is to announce an expansion of over-the-counter trading of shares of unlisted companies.

The report said a market making rule will be introduced, which will add to sources of income for securities firms.

CITIC Securities, China’s largest broker, gained 1 percent to 12.73 yuan. Haitong Securities rose 1.1 percent to 11.48 yuan. Soochow Securities Co gained 2.2 percent to 8.53 yuan.

Most oil shares gained after China’s top economic planner yesterday raised the retail prices of the benchmark 90-octane gasoline by 0.04 yuan per liter and diesel price by 0.05 yuan per liter.

Sinopec Shanghai Petrochemical Co Ltd surged by the daily limit of 10 percent to 3.17 yuan. Shanghai Lonyer Fuels Co Ltd gained 1.1 percent to 10.92 yuan.

Media firms fell the most. Time Publishing And Media Co Ltd dropped 3 percent to 17.02 yuan. China Television Media Ltd fell 1.7 percent to 16.68 yuan.


 

Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

娌叕缃戝畨澶 31010602000204鍙

Email this to your friend