--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates


Hot Links
China Development Gateway
Chinese Embassies


Foreign-invested Stocks Pull Indices to Month-high
China shares rose to their highest totals in a month yesterday, spurred on by gains from the first four local firms to generate foreign investment under the Qualified Foreign Institutional Investor (QFII) scheme, brokers said.

The benchmark Shanghai composite index, grouping hard currency B shares for foreign investors and yuan-denominated A shares, finished 0.65 percent higher at 1,539.358 points, its highest close since June 18.

The Shenzhen sub-index also gained 31.31 points, or 0.92 percent, to end at 3,443.70 points.

Swiss bank UBS AG invested in four firms last week, becoming the first foreign institution to buy A shares under the landmark QFII scheme, which is aimed at prying open China's huge but restrictive stock and bond markets.

The four firms were ZTE Corp, Baoshan Iron & Steel, Sinotrans Air and Shanghai Container.

All four outperformed, with logistics provider Sinotrans one of the top gainers, up 6.79 percent at 23.28 yuan, while Baoshan Iron and Steel, the listed arm of China's largest steel maker, rose 1.09 percent to 5.57 yuan.

ZTE was up 3.4 percent at 19.98 yuan, while Shanghai Container rose 1.09 percent to 13.86 yuan.

Analysts said the quartet of so-called "QFII-concept stocks" were industry leaders and should perform well in the medium term.

They had helped the broad market rise 3.6 percent since the start of July and provided a slight boost to overall trading sentiment, analysts said.

"The market has shown a steady climb, and its upward momentum strengthened this afternoon," said analyst Dong Bin at China Securities.

"We estimate the market can maintain its upward trend in the near term."

US financial giant Citigroup Inc became on Tuesday the second foreign institution to invest in China's main stock and debt markets, though it did not name its investments. The company had invested about US$4 million.

Chinese investors are also building positions in likely QFII targets. Index heavyweight CITIC Securities, China's first brokerage to float shares, jumped 5.74 percent to 8.11 yuan, while well-known lender China Merchants Bank ended up 1.32 percent higher at 12.26 yuan.

China's yuan closed flat against the US dollar at 8.2770 yesterday, sticking to the firmer end of its rigid trading band.

The yuan was sandwiched between 8.2768 and 8.2771 throughout the session, near the stronger end of a razor-thin band of 8.2760 to 8.2800 that the central bank usually enforces.

Turnovers fell to a moderate US$640 million from US$790 million a day earlier.

Federal Reserve Chairman Alan Greenspan told US legislators that China will eventually need to float its currency, sending forward premiums on the yuan towards record highs, with the one-year non-deliverable forward dollar dealt at a discount of 1,870 points in Thursday morning trade.

But dealers shrugged off his comments, saying they did not expect any changes in the short run with a stable exchange rate system long considered a base for growth and social stability.

Central bank Governor Zhou Xiaochuan said in a report issued early this week that China would continue to "perfect" its exchange rate mechanism. One bank dealer said that meant Beijing would pay more attention to reforming the yuan regime.

The yuan is not freely convertible on capital accounts and its movements within the government-set range are decided mostly by trade and foreign investment.

On Thursday, the yuan closed firmed at 6.9906 against 100 Japanese yen from 7.0107 on Wednesday, and softened versus the euro to 9.2851 from 9.2299.

It ended one notch weaker against the Hong Kong dollar at 1.0609.

(China Daily July 18, 2003)

Stock: Auto, Steel Interests Pull Indices Upwards
Stock: Steel-share Purchases Push Indices Higher
Worries About First-half Results Trigger Stock Dip
Stock: UBS Buying of A Shares Sends Indices Soaring
UBS Buys into Chinese Stock Market
Shares End Lower Despite Landmark Entry of UBS
Telecom Stocks Perk up, Sending Indices Higher
Mid-term Gainers Send Indices Slightly Higher
Stock: Key Index Rebounds from Three-month Low
Indices Continue to Drop in Interim Results Season
Stock: Seasonal Sales Send Indices to New Lows
Stocks Decline on Loans Probe
Indices Edge Upwards on Auto-stock Strength
China Eastern Stock Trading Halts
Stock Nudges Lower, Auto Makers Favored
Print This Page | Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688
主站蜘蛛池模板: 99国产欧美久久久精品蜜芽| 久久久久久久伊人电影| 爱搞视频首页在线| 同性女女黄h片在线播放| 香港三级欧美国产精品| 国产精品三级电影在线观看| 亚洲熟女WWW一区二区三区| 高清无码视频直接看| 国产精品国三级国产AV| 999国产精品999久久久久久| 好大好爽好舒服视频| 两个人看的日本高清电影| 欧美性猛交一区二区三区| 亚洲综合在线一区二区三区| 秋霞午夜在线观看| 午夜老司机免费视频| 手机看片国产福利| 天堂а√在线中文在线新版| √天堂中文官网8在线| 成人h在线播放| 中文字幕一精品亚洲无线一区| 日本免费精品一区二区三区| 久久精品国产99国产精品| 欧洲美熟女乱又伦免费视频| 亚洲国产成AV人天堂无码| 欧美激情一区二区三区蜜桃视频 | 欧美精选欧美极品| 亚洲综合色婷婷在线观看| 男人边吃奶边做弄进去免费视频| 凹凸在线无码免费视频| 美女被免费喷白浆视频| 国产真实乱了在线播放| 1卡二卡三卡四卡精品| 国产精品高清一区二区人妖| 97久久免费视频| 在线看片中文字幕| 99久久精品国产一区二区蜜芽| 无码精品国产一区二区免费| 久久久精品人妻一区二区三区四| 日韩亚洲专区在线电影| 久久精品国产亚洲AV麻豆王友容 |