Friday, December 28, 2007

Chinese language - Stocks close above 5,000-point mark

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BIZCHINA / Index & Statistics

Stocks close above 5,000-point mark

By Li Zengxin (chinadaily.com.cn)
Updated: 2007-08-23 16:32

After yesterday's intense combat around the critical frontier, the
benchmark Shanghai index climbed up to the 5,000-point mark and managed
to consolidate the position today. At the same time, both the major
indices finished at record highs.

Total turnover of stocks in the major indices?was 244.8 billion yuan,
lower than yesterday.

Shanghai Composite Index
Source: www.sina.com.cn

The Shanghai Composite Index opened higher at 5,002.84 but soon lost
momentum and slid down to a low of 4,968.33. There, it turned up again
and regained the battle ground. It held on over the line till the end and
touched 5,050.38, the day's highest point. Finally?the index?stopped at
5,032.49, 52.42 points or 1.05 percent higher than yesterday's closing
level.

Shenzhen Component Index
Source: www.sina.com.cn

The Shenzhen Component Index, tracking the smaller Shenzhen Stock
Exchange, opened higher at 17,441.64 and stayed within a range of between
17,272.29 and 17,731.62. The index closed at 17,639.23, up 307.24 points
or 1.77 percent.

Of the A shares listed in Shanghai, 486 went up, 276 closed down and 80
finished unchanged. Of the gainers, 19 were sealed at the maximum growth
cap of 10 percent.

In Shenzhen, 338 A shares closed higher, including the 12 best performing
stocks with a 10 percent growth, while 219 slipped down and 82 ended flat.

The largest traders, the Industrial and Commercial Bank of China, Chalco
and TCL, went up less than 1 percent. China Vanke, with the largest
transaction value in Shenzhen, climbed 2.3 percent to 34.79 yuan.

New shares Ningbo Dongli Transmission Equipment, Shanghai Cimic Tile and
Shenzhen Sanxin Glass Technology rose 288 percent, 216 percent and 194
percent respectively. The less "drastic" price changes than their
predecessors' represented the effectiveness of the bourse's latest
measures against malicious bidding, said analysts.

A shares in the media, paper and real estate industries led the surge.
Listed closed-end mutual funds were up, with both the indices rising over
1 percent.

(For more biz stories, please visit Industry Updates)

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