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

   

Stocks rise, but outlook cautious

(Shanghai Daily)
Updated: 2007-03-22 10:03

Shanghai's benchmark stock index cruised to a new high yesterday as investors flocked to blue chips following an expression of market confidence by a senior law maker.

The rally may be short-lived, however.

Related readings:
 Shanghai stock index closes at record high
 Senior official plays down fear of bubble in stock market
 Stocks rise to 3-week high
 
China bars firms speculating with stock-sale funds

Analysts said the Shanghai Composite Index - hovering just north of the 3,000 mark - faces near-term pressure from profit taking.

The index, which tracks yuan-denominated A shares and hard-currency B shares, inched up 0.83 percent yesterday to 3,057.38. The peak was the highest since February 26 when the index settled at 3,040.60.

Yesterday's turnover hit 90.2 billion yuan (US$11.7 billion), compared with 82.6 billion yuan the day before.

"The gains were led by the heavily weighted blue chips," said Chen Jinren, an analyst at Huatai Securities Co.

Big caps including refiners, real estate developers and banks were among the main drivers.


An investor monitors stock movements at a stock exchange market in Shanghai March 19, 2007. China's main stock index jumped 2.87 percent on Monday, nearing its all-time high, as bank shares surged following an interest rate hike at the weekend. [Reuters]
Shanghai Lujiazui Finance & Trade Zone Development Co hit the daily trading limit by jumping 10 percent to 18.44 yuan. Retail giant Shanghai Bailian Group Co Ltd surged 9.98 percent to 13.55 yuan. Jiangxi Copper Co Ltd, the nation's biggest copper producer, advanced 9.98 percent to 19.83 yuan.

The runup came after senior legislator Cheng Siwei said on Tuesday he was "confident about the stock market."

During a speech at Fudan University, Cheng said the government should ramp up efforts to create a fair and open market scenario.

Cheng, vice chairman of the Standing Committee of the National People's Congress, also warned investors against the blind pursuit of overvalued chips.

Analysts also cautioned investors against the risk of corrections in the near term as pressures mount above the 3,000 mark, considered a psychological threshold.

"We see the 3,000-mark as a high level for the index, which has surged all the way from 900 since June 2005," said Peng Yunliang, an analyst at Shanghai Securities Co. "Plus, many stocks are overvalued after strong gains during recent trading."



(For more biz stories, please visit Industry Updates)



玛纳斯县| 马龙县| 望奎县| 青州市| 绥滨县| 景东| 鹤庆县| 通山县| 常熟市| 霍城县| 惠来县| 昆山市| 屯门区| 汉寿县| 山东| 万州区| 如东县| 富川| 卫辉市| 塘沽区| 陆丰市| 吕梁市| 咸宁市| 阿瓦提县| 高青县| 泾阳县| 南汇区| 延长县| 绍兴市| 松潘县| 鄂托克前旗| 永吉县| 屯昌县| 延庆县| 无锡市| 清新县| 陆良县| 马公市| 九台市| 乐昌市| 美姑县|