Learn mandarin - Stocks finish up despite multiple pressures

?  ?

BIZCHINA / Index & Statistics

Stocks finish up despite multiple pressures

By Li Zengxin (chinadaily.com.cn)
Updated: 2007-09-10 16:37

Chinese stocks responded to multiple depressing forces, possibly enough
to incur further tightening measures by the government.

With a lower opening,?the Shanghai Composite Index?went down over 100
points and ran through the morning session below Friday's close. In the
latter half however, the major indices not only regained lost ground but
also finished higher than last Friday.

The pressures include an expected record-high consumer price index (CPI)
for August and the rising value of the Chinese currency. Total turnover
of the stocks in the major indices was 235.2 billion yuan, lower than
Friday.

Shanghai Composite Index
Source: sina.com.cn

The benchmark Shanghai index opened lower at 5,208.32, slid to its low of
5,169.91 and went through the morning below Friday's closing level. When
trading resumed after the noon break, however, it began marching up. By
the end of the day, it finished at 5,355.29, 78.11 points or 1.48 percent
higher than the previous closing, just a little lower than today's
highest 5,356.86.

Of the A shares listed in Shanghai, as many as 587 went up, including 36
of them reaching the maximum daily growth cap of 10 percent. Only 188
closed down and 67 ended flat. The Industrial and Commercial Bank of
China, with the largest trading volume, dropped 0.15 percent. Bank of
Communications, with the largest transaction value, rocketed nearly 9
percent to 14.37 yuan.

Shenzhen Component Index
Source: sina.com.cn

The Shenzhen Component Index, tracking the smaller Shenzhen Stock
Exchange, opened at 17,473.23 but closed 244.38 points or 1.38 percent
higher at 17,918.48. Mapping out a similar trend to its Shanghai
counterpart, the index went through the day within a range of between
17,310.96 and 17,953.15.

Of the A shares, 406 climbed up, 157 fell and 76 remained unchanged.
Large traders TCL and China Vanke were both up over 1 percent.

(For more biz stories, please visit Industry Updates)

?? ?? 1?? 2?? ??

?? ?? 1?? 2?? ??

Learn Chinese, Learn mandarin