Latest News:  

English>>Business

Chinese shares rise on Monday

(Xinhua)

08:44, January 22, 2013

BEIJING, Jan. 21 (Xinhua) -- Chinese shares continued to rise on Monday following a marked rebound on Jan. 18, with B shares up sharply on release of China Vanke to switch its B shares to H shares.

The benchmark Shanghai Composite Index climbed 0.48 percent on Monday, or 11.15 points, to end at 2,328.22, while the Shenzhen Component Index gained 1.38 percent, or 130.55 points, to 9,562.85.

B shares on the two bourses outran the benchmark index as B Share Indices on the Shanghai Stock Exchange and Shenzhen Stock Exchange jumped 3.04 percent and 6.05 percent, respectively.

The surge was buoyed by the release of the country's largest property developer, China Vanke, to switch its B shares on the SZSE to H shares on Hong Kong bourse, a plan which it announced on Friday.

Combined turnover on the two bourses increased to 220.93 billion yuan (35.18 billion U.S. dollars) from 207.4 billion yuan the previous trading day.

Gainers outnumbered losers by 628 to 299 in Shanghai and by 984 to 471 in Shenzhen.

As for B shares, 85 percent of the stocks rallied. China Vanke Co., Shanghai Diesel Engine Co. and Shanghai Wingsung Investment Management Co. soared by the 10-percent daily limit to 13.75 yuan, 0.74 yuan and 1.29 yuan per share, respectively.

The Coal sector led the rises. Taiyuan Coal Gasification Company increased by the daily limit to 13.64 yuan per share, while Shanxi Coking Co. went up 9.09 percent to 9.84 yuan per share.

Cement companies also rallied on Monday. Henan Tongli Cement Co. gained 3.84 percent to 11.89 yuan per share, while Huaxin Cement Co. climbed 5.28 percent to 15.35 yuan.

Bucking the trend, liquor makers suffered. Hebei Hengshui Laobaigan Liquor Co. slumped 3.6 percent to 43.94 yuan per share, while Anhui Gujing Distillery Company fell 5.16 percent to 33.84 yuan.

We recommend:

Online turnover surpasses 1 trillion yuan in 2012

Jack Ma to step down as Alibaba CEO

FDI sees 1st decrease in 9 years amid slowdown

China helps drive Rolls to record year

Top Ten Economic Events in 2012

CIC seeks balanced portfolio

Email|Print|Comments(Editor:黄蓓蓓、梁军)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. WZ-8 armed helicopters in training

  2. UN's equipment verification

  3. Unforgettable moments you cannot miss in Jan.

  4. China’s weekly story (2013.01.09-01.19)

  5. SW China mine accident kills 5

  6. Lanterns fly from low to high

  7. Characters of 'Journey to the West'

  8. Chinese animation films getting stronger

  9. Most transparent multinationals

  10. Elegant beauties in your eyes

Most Popular

Opinions

  1. China to stick to own path in maritime exploration
  2. Learning the language of affection
  3. Don't buy a house before 35 years old?
  4. Anti-pollution plan gets mixed reviews
  5. Emotional abuse to child cannot be neglected
  6. US' dangerous stance
  7. What election means to Israel
  8. Beijing economy expected to grow
  9. London's Great Smog has lessons for Beijing
  10. Top 10 news items for Chinese firms in 2012

What’s happening in China

I love you, really : Love grows between a girl and her father

  1. Database gives hope to abducted children
  2. Beijing population tops 20.69 mln
  3. China to enforce first privacy protection standard
  4. 'One day, wolves may attack humans'
  5. Website launched to promote drug control