? ?
BIZCHINA / Index & Statistics
Share prices rise for 6th straight trading day
(Xinhua)
Updated: 2007-08-27 17:47
Chinese share prices kept rising on Monday with the benchmark Shanghai
Composite Index up 0.83 percent or 42.45 points to close at a record
5,150 points.
The index has been hitting new highs since Aug. 20, up more than 450
points during a week.
The Shenzhen Component Index on the smaller stock market gained 0.11
percent or 20.16 points on Monday to close at 17,884.8 points,also a
record.
Nonferrous metal producers and steel companies led the advance. Aluminum
Corporation of China Limited rose to the daily limit of 10 percent and
closed the day at 50.62 yuan per share. Baosteel jumped 5.51 percent to
34.45 yuan per share.
Heavyweights also rose on Monday. The Industrial and Commercial Bank of
China, the country's largest State-owned commercial bank, gained one
percent to reach 7.06 yuan per share.
The combined turnover on the two bourses expanded to more than 270
billion yuan (US$35.5 billion) from 255.95 billion yuan on the previous
trading day.
In a report released last on Friday, ratings agency Standard and Poor's
said Asian economies would be able to weather the turmoil in global stock
and credit markets without "major reversals".
Chinese share prices last Thursday breached the 5,000-point mark for the
first time the stock market was established 18 years ago. After jumping
about 130 percent in 2006, the index has surged around 85 percent so far
this year despite four interest rate hikes and a slew of other measures
to cool the market.
Investors remain confident with the market and show no worries about the
soaring index. Statistics with China Securities Depository and Clearing
Corporation Limited show that around 475,582 new accounts were opened on
last Friday, the highest in eight days.
At present, the market value of the two bourses, with more than 115
million accounts so far, has exceeded China's gross domestic product and
reached 22 trillion yuan.
(For more biz stories, please visit Industry Updates)
Learn Chinese online
No comments:
Post a Comment