Stocks continue marching up, setting new records
Updated: 2007-08-06 16:26
Chinese stocks remained strong and struck new records today, with the Shanghai Composite Index adding up another 67.33 points to 4,628.11, 1.48 percent higher than last Friday's record.
Unlike last Friday, when a few heavyweight stocks rose moderately to lift the whole market, today prices of a large portion of the total stocks rose. On the two exchanges, a total 997 stocks went up today.
Total turnover of stocks enclosed by the two major indices was 259.4 billion yuan, slightly lower than that of last Friday.
Shanghai Composite Index
Source: www.sina.com.cn
The Shanghai Composite Index started at the 4,600-point level right at the opening, a 40 point jump from the previous closing. During the day, it went through a few short-ranged fluctuations, but none of the drops brought it below the last close, with a low of 4,564.31. Finally, it closed just a little below the daily high of 4,629.97.
Of the A shares listed on the Shanghai bourse, 593 closed up while 190 slipped and 59 finished unchanged. CEC Corecast Corp led a total of 24 stocks to rise at least 10 percent, the maximum movement cap for stocks on a single-day trading. Chengdu Yangzhiguang Industrial, suspected of misconduct for information disclosure in their directed placement process for additional shares, however, lost 9.6 percent to finish the day on the bottom.
The Industrial and Commercial Bank of China, with the largest trading volume, failed to repeat last Friday's 5 percent growth today, but dropped 0.34 percent to 5.8 yuan. China Minsheng Banking Corp, with the largest transaction value, continued a bull run, with its share price gaining 0.11 yuan.
Shenzhen Component Index
Source: www.sina.com.cn
The Shenzhen Component Index, tracking the smaller Shenzhen Stock Exchange, rose 363.17 or 2.24 percent to 16,542.81. Opening higher from 16296.96, it went through the day in a range between 16,189.99 and 16,542.81, both higher than the previous close.
Of the A shares, 409 went up, 133 slipped, and 78 closed flat. Jiangsu Sihuan Bioengineering was up 10.08 percent as the biggest gainer while Shahe Industry lost 6.92 percent on the other end of the table. The largest trader, China Vanke, added 0.17 yuan to its share price.
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