Shanghai stocks in modest rally |
http://www.sina.com.cn 2003/04/10 11:41 Shanghai Daily |
Share prices in Shanghai ended in a moderate rally yesterday, spurred by buying in finance and steel stocks. The Shanghai Composite Index, which tracks both yuan-denominated Class-A and hard-currency Class-B shares, advanced 1.52 percent to 1543.67. The trading volume was 18.58 billion yuan (US million), up from 11.3 billion yuan the day before. The A-share index closed at 1614.75, up 1.54 percent. Thanks to heartening earnings figures, steel makers brightened up the market yesterday. Among them, Lingyuan Iron & Steel Co moved up by the 10-percent daily limit to close at 8.70 yuan, and Anyang Iron & Steel Co was up 7.33 percent to 6.15 yuan. China Merchants Bank rose 6.62 percent to 11.60 yuan. The B-share index also movedsintospositive territory, finishing 0.41 percent higher at 123.60. "It was a trading day that looked healthy in nearly all aspects, such as trading volume and buying sentiment," said analyst Wei Wei of West China Securities Co. "Although it seems that the broader market is technically well-prepared for a further upswing, one has to be careful about possible profit-taking on gainers, such as auto and finance-related stocks." |
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