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Stocks snap out of losing streak in morning trade
By Hu Xiaocen |
February 15, 2012, Wednesday
|
Online Edition
Online Edition
THE Shanghai Composite Index rebound in the morning session, as Premier Wen Jiabao reiterated for the second time in a month that China would intensify efforts to solve debt problems in Europe, China's biggest trading partner.
The key index added 0.86 percent, or 20.15 points, to 2,364.92 by noon break, snapping out of its two-day losing streak. Turnover stood at 39.7 billion yuan (US$6.3 billion).
China is ready to intensify efforts to solve the debt problems in Europe, and get more involved in close communication and collaboration with the European Union, said Premier Wen yesterday.
"China has confidence in European debt and the Euro," Zhou Xiaochuan, Governor of People's Bank of China, said at a press conference today, echoing Premier Wen's statements.
"China will increase its holdings of European bonds," he added.
Shipping companies rallied on the leaders' pledge, which eased concerns about an export slowdown, as Europe is China's biggest export market. China Cosco Holdings Company, Asia's largest shipping line surged 5.38 percent to 5.68 yuan. COSCO Shipping Co, a unit of China's largest operator of dry bulk cargo ships, soared by the 10 percent daily limit to 4.93 yuan.
Investors are advised to be cautious when making decisions, as stocks are likely to continue fluctuating, said GF Securities today.
The key index added 0.86 percent, or 20.15 points, to 2,364.92 by noon break, snapping out of its two-day losing streak. Turnover stood at 39.7 billion yuan (US$6.3 billion).
China is ready to intensify efforts to solve the debt problems in Europe, and get more involved in close communication and collaboration with the European Union, said Premier Wen yesterday.
"China has confidence in European debt and the Euro," Zhou Xiaochuan, Governor of People's Bank of China, said at a press conference today, echoing Premier Wen's statements.
"China will increase its holdings of European bonds," he added.
Shipping companies rallied on the leaders' pledge, which eased concerns about an export slowdown, as Europe is China's biggest export market. China Cosco Holdings Company, Asia's largest shipping line surged 5.38 percent to 5.68 yuan. COSCO Shipping Co, a unit of China's largest operator of dry bulk cargo ships, soared by the 10 percent daily limit to 4.93 yuan.
Investors are advised to be cautious when making decisions, as stocks are likely to continue fluctuating, said GF Securities today.
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