综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

   

China stocks up in late rally

By Dong Zhixin (chinadaily.com.cn)
Updated: 2007-06-26 17:05


Investors monitor the movement of stock prices at a brokerage firm in Wuhan, Central China's Hubei Province June 25, 2007. [newsphoto]

Chinese stocks posted slight gains on Tuesday after a late rally driven by blue chips, reversing two straight days of sharp losses.

The benchmark Shanghai Composite Index gained 0.82 percent to close at 3,973.37 after moving between 3,863.25 and 3,976.19 points. It lost 3.29 percent on Friday and 3.68 percent on Monday.

The index was in negative territory for most of the day, as investors remained jittery about further government measures to cool down the economy and curb inflation. There were also worries about interest rate hikes and the abolition of tax on interest accrued from deposits.

However, in the last 30 minutes of the trading session, the index started to recover the lost ground, buoyed by blue chip stocks.

Sinopec, Asia's largest oil refiner, rose 1.04 percent to end at 13.61 yuan per share, as opposed to a 5.74 percent drop in the previous session due to the uncertainty about the refiner after its chairman Chen Tonghai resigned abruptly for "personal reasons."

Air China, the country's biggest international airliner, soared 5.68 percent to 10.24 yuan after announcing the sale of its 416 million yuan stake in West China Securities in its latest drive to dispose of non-core assets.

Bank shares were also strong, with the Industrial Bank being the biggest gainer, rising 3.87 percent to 34.32 yuan. The Industrial and Commercial Bank of China gained 0.6 percent to 4.99 yuan, while the Bank of China went up 0.4 percent to 5.03 yuan.

Analysts expect the market to fluctuate for the next days or even weeks in the face of a series of unfavorable factors.

Central bank governor Zhou Xiaochuan said during the week another interest rate hike could not be ruled out because inflation might rise "a little bit" further.

Furthermore, several red-chip companies - mainland firms, which are registered and listed overseas - might sell stocks in the Shanghai or Shenzhen stock exchanges within the next two months. That was widely seen as an attempt by authorities to cool the market through a greater supply of shares.

This week, China's parliament is expected to consider a plan for the Ministry of Finance to issue as much as US$200 billion of yuan bonds domestically to fund purchases of foreign reserves for a new overseas investment agency.

What also affects the market is word that the parliament might authorize the State Council on Friday to reduce or cancel the tax on interest accrued from deposits in an attempt to slow down the diversion of bank savings to the stock market.



Top China News  
Today's Top News  
Most Commented/Read Stories in 48 Hours
旬邑县| 宜川县| 呈贡县| 平湖市| 海口市| 淳安县| 额尔古纳市| 天津市| 玛曲县| 南郑县| 河南省| 蒙山县| 连云港市| 静安区| 肥西县| 红河县| 襄汾县| 沅江市| 民勤县| 柘荣县| 息烽县| 治多县| 小金县| 德昌县| 石渠县| 新蔡县| 濮阳市| 延安市| 渝北区| 曲靖市| 鹤壁市| 涟水县| 桓仁| 高唐县| 紫阳县| 多伦县| 林口县| 海淀区| 湘西| 雷山县| 安宁市|