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

Business / Markets

Stock connect program pushes Chinese shares to 3-year high

(Xinhua) Updated: 2014-11-11 09:46

BEIJING -- Chinese shares soared to close at a nearly three-year high on Monday following the announcement of the launch of the much-anticipated Shanghai-Hong Kong stock connect pilot program.

The benchmark Shanghai Composite Index gained 55.5 points, or 2.3 percent, to close at 2,473.67 points, the highest since Nov 15 of 2011 when it closed at 2,529.76 points.

The smaller Shenzhen Component Index closed at 8,410.22 points, up 175.35 points or 2.13 percent.

Total turnover on the two bourses shrank to 440.6 billion yuan ($71.9 billion) from Friday's 471.9 billion yuan.

Most of A-shares at Shanghai and Shenzhen stock exchanges rose in the day. In Shanghai, 721 shares gained while 150 shares lost. In Shenzhen, 883 shares rose with 533 losers.

Bluechips largely outperformed small-cap stocks as they are expected to be the main beneficiaries of the upcoming Shanghai-Hong Kong stock connect.

The securities watchdogs of the Chinese mainland and Hong Kong announced in a joint statement that the Shanghai-Hong Kong stock connect will start stock trading on Nov. 17.

The pilot program will enable investors to trade eligible shares listed on the other's market through local securities firms or brokers.

The statement, which was released before the opening of mainland and Hong Kong stock markets, helped push up Chinese mainland shares.

Shares of securities brokers, banks, steelmakers, distilleries, and companies of road and bridge construction, shipping and cement led the charge.

The sub-index for financial companies advanced 2.82 percent in the day, led by gains of securities brokers. Fuzhou-based Industrial Securities Co Ltd jumped by the daily limit of 10 percent. Huatai Securities advanced 8.34 percent.

Shares related to China's proposed Silk Road Fund also jumped in the day, with Xinjiang Urban Construction Group Co Ltd and Xinjiang International Industry Co Ltd jumping by the daily limit of 10 percent.

Steelmakers also gained remarkably amid expectations that the Silk Road Fund is set to boost China's investment in neighboring countries' infrastructure, which may help domestic steel producers to digest their excessive capacity.

Chinese President Xi Jinping on Saturday said China will contribute $40 billion to set up a Silk Road Fund on strengthening connectivity and improving cooperation in the country's neighborhood.

Ai Tangming, a Beijing-based stock market analyst, said the stock connect program is expected to have a positive influence on the mainland's A-share markets in the long run, and the impact has just begun.

And China's Silk Road Economic Belt and the 21st Century Maritime Silk Road initiatives are set to shore up the slowing Chinese economy, he said.

These two factors could help the mainland stock markets to have a lasting bull run, Ai claimed.

Chinese shares, which had been bearish for years, have continued to rise since the end of July. Market sentiment has improved significantly in the past three months, as more analysts and investors are talking of a bull run.

By Monday closing, the benchmark Shanghai index had gained 419 points, or 20.4 percent, from the closing on July 21, which stood at 2,054.5 points.

Stock connect program pushes Chinese shares to 3-year high

Stock connect program pushes Chinese shares to 3-year high

Stock Connect delay worries investors Shanghai-HK stock connect starts on Nov 17

Hot Topics

Editor's Picks
...
北川| 枣庄市| 双峰县| 新蔡县| 长沙县| 汶上县| 松江区| 贵南县| 罗定市| 通化县| 同仁县| 合山市| 运城市| 宁明县| 容城县| 田阳县| 故城县| 乐业县| 河间市| 炎陵县| 彭阳县| 乐陵市| 泽库县| 桑植县| 平凉市| 建平县| 绥宁县| 玉门市| 邳州市| 犍为县| 西盟| 中牟县| 张掖市| 永吉县| 通城县| 会宁县| 平湖市| 乐安县| 兴山县| 南川市| 六盘水市|