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Strong profit reports move index up 1.28%
By Lydia Chen |
June 30, 2011, Thursday
|
Online Edition
Online Edition
SHANGHAI stock index jumped in the morning session today with a cross-board rally as companies' earning reports in the second quarter beat previous estimates.
The Shanghai Composite Index climbed 1.28 percent to 2,763.53. But turnover slipped to 55.81 billion yuan (US$8.63 billion).
Blue chips such as insurers, brokerages, coal and steel producers were among the gaining counters in the early trading.
Haitong Securities climbed 2.61 percent to 9.03 yuan. Shanxi Securities advanced 2.56 percent to 9.23 yuan.
Mainland brokerages saw their total income from securities margin trading exceeding 1.2 billion yuan from January to June.
Meanwhile, the number of newly opened stocks accounts hit the highest in two months last week, indicating a reviving investment interest among investors.
Firms based in China's Inner Mongolia Autonomous Region were most active this morning after China said it will offer further support to drive the region's economy and will allow local companies to issue bonds and go public to finance their development.
Inner Mongolian Baotou Steel Union Co hiked 6.93 percent to 8.49 yuan. Inner Mongolia MengDian HuaNeng Thermal Power Co added 3.87 percent to 8.86 yuan.
The Shanghai Composite Index climbed 1.28 percent to 2,763.53. But turnover slipped to 55.81 billion yuan (US$8.63 billion).
Blue chips such as insurers, brokerages, coal and steel producers were among the gaining counters in the early trading.
Haitong Securities climbed 2.61 percent to 9.03 yuan. Shanxi Securities advanced 2.56 percent to 9.23 yuan.
Mainland brokerages saw their total income from securities margin trading exceeding 1.2 billion yuan from January to June.
Meanwhile, the number of newly opened stocks accounts hit the highest in two months last week, indicating a reviving investment interest among investors.
Firms based in China's Inner Mongolia Autonomous Region were most active this morning after China said it will offer further support to drive the region's economy and will allow local companies to issue bonds and go public to finance their development.
Inner Mongolian Baotou Steel Union Co hiked 6.93 percent to 8.49 yuan. Inner Mongolia MengDian HuaNeng Thermal Power Co added 3.87 percent to 8.86 yuan.
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