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BIZCHINA> News
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Stocks surge 4.58%, the biggest growth for a month
By Li Zengxin (chinadaily.com.cn)
Updated: 2007-07-06 15:56 After seeing the largest plunge in comparative terms in a month yesterday, Chinese stocks made a U-turn and achieved the biggest growth for a month today. The Shanghai Composite Index closed at 3,781.35, up 165.48 points or 4.58 percent from yesterday's closing
Total turnover of the stocks enclosed by the major indices was 142.1 billion yuan, the largest this week but still low compared with previous weeks. Shanghai Composite Index The benchmark index opened lower from 3,599.82 and rocked to 3,689.76 in half an hour but then slid all the way down to the lowest 3,563.54 at the close soon before the noon break. From then on, it surged in waves to tough the highest 3,785.35 near the close. Of the A shares listed at the Shanghai bourse, as many as 774 climbed up, while 24 went down and 41 ended flat. Dalian Daxian grew 10.11 percent to 4.9 yuan on the top of the gainer's list, followed by Huafang and Sinotex Investment and Development, also sealed at the maximum growth cap of 10 percent. Yangzhou Yaxing Motor Coach, however, led the few in a fall by a 14 percent drop. The Industrial and Commercial Bank of China, with the largest trading volume, added up 0.18 yuan to its share price and Chalco, with the largest transaction value, surged 5.26 percent to lift up the index. Shenzhen Component Index The Shenzhen Component Index, tracking the smaller Shenzhen Stock Exchange, opened lower from 11,729.78 but closed at 12,395.35, up 611.77 points or 5.19 percent from yesterday's closing. It went through the day within a range from 11,654.46 to 12,409.72. Of its A shares, 524 rose, 22 dropped and 44 finished unchanged. Fujian Minnan Zhangzhou Economy Development hiked 10.09 percent to lead the surge while Shenzhen SDG Information was down 10 percent as the biggest loser. Large traders TCL and Jilin Aodong Medicine Industry Group were both up, with the latter sealed at a perfect 10 percent growth to 52.64 yuan. (For more biz stories, please visit Industries)
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