Chinese stocks finish up amid frequent swings
By Li Zengxin (chinadaily.com.cn)Updated: 2007-06-15 15:42 Chinese stocks edged up after hitting peaks and bottoms alternatively today. Total turnover of the stocks enclosed by the major indices was 231.9 billion yuan, higher than that of yesterday, but still the third lowest since May 29.
The Shanghai Composite Index closed at 4,132.54, up 17.03 points or 0.43 percent from yesterday's closing.
Opening 30 points lower from 4,085.66, the benchmark index shifted directions a few times. Once a temporary new high or low point was hit, it headed the opposite way. During the day, the index had formed two peaks and two bottoms, toughing 4,067.36 as the lowest and 4,152.54 the highest, before it fluctuated less violently in the later half of the afternoon session and drew to an end.
Shanghai Composite
Index
Source: www.sina.com.cn
At the Shanghai exchange, 308 A shares went up, 470 closed down and 61 finished unchanged. Anhui Wanwei Updated High-Tech Material Industry rose 10.03 percent to 21.4 yuan on top of the gainer's list. Xinjiang Guannong Fruit and Antler and China Jiangsu Textiles Import and Export Group were also sealed at the maximum cap of 10 percent rise. Kingray New Materials Science and Technology, however, dropped 7.03 percent as the big loser.
China Minsheng Banking Corp saw both the largest trading volume and transaction value. It went up 2.02 percent to 11.61 yuan.
The Shenzhen Component Index, tracking the smaller Shenzhen Stock Exchange, closed at 13,697.16, up 30.88 points or 0.23 percent. It went through the day within a range between 13,525.25 and 13,778.13.
Shenzhen Component
Index
Source: www.sina.com.cn
Of its A shares listed on the two exchanges, 227 were up, 307 down and 79 flat. Ningbo Xinhai Electric rose 10.02 percent to lead the surge while Shenzhen Huafa Electronics led other "special treatment" shares to lose the largest proportions. The largest traders, TCL and China Vanke both went up.
B shares fell. Of the 109 B shares listed on the two exchanges, 27 rose and 12 ended flat. Hainan Pearl River Holdings had another 10 percent rise to rank the first on the table.
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On the news of Nanjing and Suzhou city commercial banks applying for initial public offerings, their shareholder companies listed on the exchanges have continued a bull run since yesterday. Younger Group, second on top of the list for the largest transaction values in Shenzhen, saw its price up 4.24 percent to 29.28 yuan today.
Stocks in electronics, information technology, services and machinery sectors
were also the market leaders today.
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