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's shares closed higher Thursday, buoyed by a buying spree in banks after the government pledged to reform rigid interest rate mechanisms.

The benchmark Shanghai composite index, grouping hard-currency B shares for foreigners and yuan-denominated A shares, finished 0.54 per cent higher at 1,452.809.

The index has risen 10.4 per cent since November 19 on the back of technical buying that emerged in the wake of a 20 per cent market slump from mid-April to mid-November.

"The broad market may take a break after the recent steep rebound, but it should have no problem rising further in the medium term as sentiment has improved," said analyst Xu Ming at Shenyin & Wanguo Securities.

Analysts said they expected the Shanghai index to rise another 3 per cent to test the psychologically important 1,500-point level over the next one to two weeks.

Four of China's five listed banks were among the 10 most active stocks yesterday, with index heavyweight China Merchants Bank jumping 4.19 per cent to 10.19 yuan (US$1.23).

China will push ahead with interest rate reforms gradually, allowing banks to set more flexible lending rates and charge lower deposit rates, Zhou Xiaochuan, governor of the central People's Bank of China, said on Wednesday.

Bank interest rates are now set by the State Council, or cabinet, although the government has promised to free them - eventually. Banks have the right to slightly adjust lending rates but must strictly abide by saving rates.

The reforms, the latest move to prepare the banking industry for foreign competition, would help the development of the sector and boost bottom lines of listed banks, analysts said.

Pudong Development Bank, in which Citigroup, the world's largest financial services company, owns a 4.62 per cent stake, closed up 2.40 per cent at 9.83 yuan (US$1.19).

Minsheng Bank rose 3.40 per cent to 9.13 yuan (US$1.10) and Huaxia Bank added 2.36 per cent to 6.94 yuan (US$0.84). Shenzhen Development Bank ended up 1.64 per cent at 8.65 yuan (US$1.04).

Analysts said there was also growing interest in metal issues after both global and domestic metal prices surged recently.

Zhongjin Gold Co, China's first gold firm to list shares, rose its 10 per cent daily limit to 9.45 yuan (US$1.14) after spot gold hit its highest levels in almost eight years on Tuesday.

On the foreign exchange market, China's yuan ended two notches firmer versus the US dollar at 8.2770, remaining at the stronger end of its managed trading range.

The yuan softened to 7.6353 versus 100 Japanese yen from 7.6210 and weakened against the euro to 10.0085 from 9.9931.

In the futures market, Shanghai copper futures slackened on yesterday, as COMEX's retreat from intra-day highs in the previous day's session aroused caution on the London Metal Exchange as well as Shanghai, traders said.

Shanghai's July contract, which overtook June as the most active, fell by 170 yuan (US$20.50) to 22,190 yuan (US$2,680) a ton. Others shed between 20 yuan (US$2.40) and 200 yuan (US$24). Volume fell to 149,634 lots from Wednesday's 272,844 lots.

"Despite COMEX hitting all-time highs on Wednesday, prices tailed off towards the end of the day, pulling LME down with them, so it's inevitable that Shanghai opened a little cautiously today," said one Shanghai trader.

Strong fundamentals and positive economic news have recently buoyed New York and London copper markets, with Shanghai benefiting from the upswing.

Close

Today's Top News		Top Business News
+China to become 4th largest trader ( 2003-12-05) +Opinion: US two-faced stance on Taiwan damaging ( 2003-12-05) +FM stresses nation's proliferation stance ( 2003-12-05) +Bush decides to lift all steel tariffs ( 2003-12-05) +Ground subsidence leaves 108 homeless ( 2003-12-05)		+Planned rates reform boosts banking stocks ( 2003-12-05) +China to become No 1 shipbuilder ( 2003-12-05) +Investors buy into Chongqing ( 2003-12-05) +China to become 4th largest trader ( 2003-12-05) +Switch on to TV innovations ( 2003-12-05)