Home Finance Chinese shares surged 4.45%, led by securities, metal stocks


Chinese shares surged 4.45%, led by securities, metal stocks PDF Print E-mail
Tuesday, 08 April 2008 01:33
   BEIJING, April 7 (Xinhua) -- Chinese shares ended 4.45 percent higher on Monday with overall growth, as securities and metal stocks led the trend.

    The benchmark Shanghai Composite Index went above 3600 points in afternoon session and closed at 3,599.62, up 153.38 points.

    Most securities shares saw a major boom, which could be a mark of regained confidence in the overall stock market, dealers said. Citic Securities surged 9.52 percent to close at 56.85 yuan. Northeast Securities rose to the daily limit of ten percent to 25.36 yuan.

    Metal shares continued to boost the index, with Baosteel, China's largest iron and steel maker, surging 5.47 percent to 12.35 yuan and Chinalco, the nation's biggest aluminum maker, rising by the maximum 10 percent for the second day to hit 22.86 yuan.

    Bank shares which made major growth in previous trading, only registered modest gains. The Bank of China rose 1.75 percent to 5.24 yuan, and the Industrial and Commercial Bank of China was up 0.94 percent to 6.42 yuan.

    JPMorgan Fleming Asset Management Strategy Director on Global Emerging Market, George J. Iwanicki, said he was optimistic about the long-term future of emerging stock markets, including China.

    Influenced by the corrections of mature markets in western countries, their U.S. dollar-denominated stock index may experience a 25 to 30 percent decline, which could last about five months. Now that the market had gone down for five months, and the corrections in these markets were likely to end, he said.

    The Shenzhen Component Index on the Shenzhen Stock Exchange ended at 13,396.61 points, up 5.88 percent, continuing the rebound in the previous trading day.

    The two bourses registered 1,592 gains against 6 losses. The combined turnover reported 127.58 billion yuan, up from 95.47 billion yuan on Thursday.

 

Add your comment

Your name:
Subject:
Comment:
  The word for verification. Lowercase letters only with no spaces.
Word verification:
Previous Next
2008 Olympic Games

Want to know more about BeiJing 2008 Olympic Games ? Check our special Olympic blog out :
http://investinginchina8.com/Olympic/

More photograph

More photograph of china ! We offer you lots of picture , enjoy it :
http://investinginchina8.com/Olympic/

Contact us

Have questions ? Contact us ! Our msn: youdeweb@hotmail.com  SKYPE: youdeweb , you can also tel  (86)13717834232 , and email is best way to reach us !  Our email is : webmaster@dll-download-system.com . You can also leave message at forum , we'll glad to help you !

Newsflash 2

The one thing about a website, it always changes! Joomla! makes it easy to add article, content, images, videos and more. Site administrators can edit and manage content 'in-context' by clicking the 'edit' link. Webmasters can also edit content though a graphical administration panel that give you complete control over your site.

Newsflash 3

With a library of hundreds of free extensions, you can add what you need as your site grows. Don't wait, look through the Joomla! extensions library today.


MSN:youdeweb@hotmail.com TEL:+8613717834232