国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

SH, SZ shares both climb to 20-month high

By Cai Xiao | China Daily | Updated: 2017-08-29 08:02
Share
Share - WeChat

Major stock indexes in Shanghai and Shenzhen bourses reached new highs on Monday, spurred by financial shares and forecast-beating results from industrial giants.

The Shanghai Composite Index closed the day with a 0.93 percent gain to 3,362.65 points, and the Shenzhen Component Index rose by 1.41 percent, both creating a 20-month high. The ChiNext startup index climbed by 1.65 percent and reached a four-month high.

A gauge of securities companies rose 6.15 percent at one point on expectations they will be the biggest beneficiary of a strong stock market recovery. Six listed brokerages such as China Galaxy Securities Co Ltd, First Capital Securities Co Ltd and Orient Securities increased by the 10 percent daily upside limit.

The revelation of State-backed fund China Securities Finance Corp boosting its holdings in some brokerages is adding to sentiment buoyed by recent market strength.

A note from Sinolink Securities Co said CSF's stake increases reflected the investment value in brokerage shares and brokers will be the primary beneficiary in the stock market as further upside is likely.

Orient Securities' first-half results released on Monday showed CSF owned 4.99 percent of the company at the end of June, up from 4.06 percent in March. Merchants Securities' report indicated a 4.64 percent CSF stake, compared with 2.67 percent stake at end-March.

Zhao Xianghuai, an analyst at Essence Securities, said valuations of listed securities firms have become very attractive as their net profits have largely improved compared with 2016 and their risk-control capabilities have become their competitiveness.

Zhao added that industry concentration of the Chinese securities market will be higher, which is another piece of good news for listed brokerages.

Profits of China's major industrial companies in July rose by 16.5 percent from a year earlier, the National Bureau of Statistics said on Sunday. The figure was 2.6 percentage points lower than in June, but still significantly on the plus side.

A research note by CITIC Securities said China's economic fundamentals remain solid, and both its domestic and external demands are rising, which should bolster growth in the coming months.

China's top coal miner China Shenhua Energy Co Ltd delivered its strongest interim results in four years, while oil giant Sinopec reported its best six-month profit since the second half of 2014, joining a slew of major State firms reporting earnings that beat their forecast.

Hong Hao, chief strategist at BOCOM International Ltd, said the solid earnings performances of large-cap shares can be among the reasons for Monday's rise.

Top
BACK TO THE TOP
English
Copyright 1994 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
新宁县| 永春县| 洮南市| 靖安县| 闽侯县| 杨浦区| 长白| 南华县| 墨竹工卡县| 台东县| 福泉市| 沅陵县| 富锦市| 临洮县| 微山县| 九龙城区| 红河县| 鸡西市| 开远市| 上虞市| 固原市| 郎溪县| 米脂县| 卢湾区| 当雄县| 凌源市| 大悟县| 天水市| 延吉市| 巫山县| 宁夏| 聊城市| 彰化市| 松原市| 柘城县| 昂仁县| 永年县| 台安县| 荥阳市| 遂宁市| 凯里市|