Banking sector leads market to small gain
(Shanghai Daily)Updated: 2007-03-10 10:49
On February 27, the benchmark Shanghai index, after reaching a record high the previous day, plunged nearly nine percent, the biggest decline in a single day in 10 years.
Meanwhile, investors are rushing to open stock accounts based on the widely accepted idea that it is still a bullish market. For Tuesday and Wednesday alone, nearly 800,000 accounts were opened nationwide.
The Industrial and Commercial Bank of China advanced 2.64 percent to 5.05 yuan. Bank of China added 3.28 percent to 5.04 yuan. China Merchants Bank edged up 0.62 percent to 16.3 yuan.
The nonferrous metal sector was also active yesterday led by Yunnan Chihong Zinc & Germanium Co, which rose 1.19 percent to 100.34 yuan.
Citic Securities slipped by 0.59 percent to 42.36 yuan after gaining in the previous three sessions.
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