Stock up 1.3%, despite capital diversion to new shares
Updated: 2007-07-12 16:16
Chinese stock trading went smoothly today and prices ended up 1.3 percent. The Shanghai Composite Index finished at 3,915.99, up 50.27 points.
Total turnover of stocks on the major indices was 102 billion yuan, higher than the 99 billion yuan of yesterday, or the smallest in four months.
Dates with monthly lowest turnover in 2007 (billion yuan)
Opening higher at 3,874.04, the benchmark index climbed to a high of 3,925.60 gradually with few deviations from an upward trend early in the day. Then it turned around and slid to a low of 3,861.04, before rising to its closing point.
Shanghai Composite Index
Source: www.sina.com.cn
Of the A shares listed in Shanghai, 483 went up, while 300 dropped and 57 ended flat. New share West Mining rose 144 percent to 19.36 yuan as the top gainer, followed by Shanghai Port Container and Shandong Jiufa Edible Fungus, also sealed at the maximum growth cap of 10 percent. Sanlian Commerce, however, lost 34 percent, the day's biggest loser.
Following West Mining, China Minsheng Banking Corp ranked second both in terms of trading volume and transaction value, and saw its share price rise 2.5 percent to 12.22 yuan.
The Shenzhen Component Index, tracking the smaller Shenzhen Stock Exchange, opened higher at 12,811.15 and closed at 12,850.74, up 65.07 points or 0.51 percent. Its priced remained within a range of 12,729.05 to 12,951.72.
Shenzhen Component Index
Source: www.sina.com.cn
Of the index's A shares, 325 were up, 212 down and 78 unchanged. East China Engineering Science and Technology ranked on top of the surging share prices with a 147 percent rise on its first trading day while Anhui Gujing Distillery, suspected of price manipulating conducts, lost 10 percent to lead the fall. China Vanke, with both the largest trading volume and transaction value, added 0.06 yuan to its share price.
Stocks in the timber, retail, wholesale and services industries performed best today. Fujian Yongan Forestry Group surged 5.5 percent to pioneer the forestry sector.
B shares were particularly strong today. Of the 109 listed B shares, only four dropped and two ended flat. Chengde Dixian Textile climbed 10 percent to 2.81 yuan, as today's biggest B-share gainer.
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