- Monday 2010-03-08 18:02
The Shanghai Composite Index advanced 22.17 points or 0.73% to close at 3,053.23 points, with turnover of 93.53 billion yuan.
The Shenzhen Component Index rose 95.83 points or 0.78% to finish at 12,437.57 points, with turnover of 70.36 billion yuan.
Led by real estate stocks which rallied in afternoon trading and certain regional concept stocks, about 80% of stocks rose. In addition, the media, steel and smart grid sectors outperformed while the telecommunications, brokerages, gold, and agricultural stocks underperformed.
On the Shenzhen and Shanghai bourses, eight non-ST stocks rose by the daily limit, including Winsan (Shanghai) Industrial (600767, 6.68, +10.05%), which announced that it will receive an asset injection from its major shareholders, Shanghai Hanbell Precise Machinery (002158, 23.72, +10.02%) and Yantai Moon (000811, 18.90, +10.01%).
Shanghai stocks mainly rose, driven by the coming Expo and Mayor Han Zheng's speech that Shanghai will launch the International Board as soon as possible. Shanghai Xin Nanyang (600661, 10.78, +10%), Shanghai Potevio (600680, 13.63, +10.03%) rose by the daily limit. Shanghai Lujiazui (600663, 24.41, +7.11%) and Tande (600665, 6.85, +6.37%) rose by more than 6%.
Chongqing CPC Party Chief, Bo Xilai, said on March 6 that the State Council has approved the establishment of a tariff-free zone in Chongqing with an area of 10 square kilometers. As a result, Chongqing stocks were the main gainers in morning trading, including Chongqing Gaungjiu (600279, 15.50, +2.51%), Chongqing Road and Bridge (600106, 14.43, +2.34%) and Chongqing Department Store (600729, 40.70, +2.7%).
Tibetan stocks performed well on news that China's fiscal support to Tibet during the 12th Five-Year Plan period is expected to double from 150 billion yuan in the eleventh five-year period. Tibet Tianlu (600326, 16.55, +2.67%), Tibet Galaxy Science and Technology Development (000752, 13.98, +3.86%) and Tibet Tourism (600749, 12.95, +3.60%) all rose.
A total of 56 or 96.55% of the stocks listed on the ChiNext board ended with gains, of which 30 stocks had rises of more than 2% while two stocks fell.
Hexin Flush Information Network (300033, 90.80, +7.58%), which announced that it will distribute 3 yuan of cash dividends for every 10 shares, Hubei Dinglong Chemical (300054, 43.92, +7.44%) and Dingli Communications Corp. (300050, 136.08, +6.15%) were among the main gainers.
