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

   

China stock market capitalization tops GDP

By Dong Zhixin (chinadaily.com.cn)
Updated: 2007-08-09 16:24


An investor monitors stock price movement at a brokerage in Changchun, Northeast China's Jilin Province August 9, 2007. [newsphoto] 

China's stock market capitalization topped the country's Gross Domestic Product (GDP) for the first time on Thursday as a key stock index hit a fresh record high for a fifth straight session.

The benchmark Shanghai Composite Index rose 1.95 percent to close at 4,754.09 points, while the Shenzhen Composite Index went up 1.51 percent to 1,348.87.

That made the overall value of the two bourses surpass the 21.087 trillion yuan in GDP in 2006, according to data from China Securities Journal.

Blue chip stocks were the main market drivers. The Industrial and Commercial Bank of China increased 2.67 percent to close at 6.54 yuan per share, while China Merchants Bank gained 5.49 percent to 36.10 yuan.

Ping An Insurance of China moved closer to the 100-yuan mark after a 7.41 percent growth, closing at 94.45 yuan. Its rival China Life followed with a 2.08 percent rise to 49 yuan.

In the property sector, China Vanke jumped 9.51 percent to 35.34 yuan. Oil also contributed to the rise, with Sinopec increasing 1.81 percent to 15.15 yuan.

Steel shares were also strong, with Baosteel surging 7.03 percent to 16.28 yuan. Shares in Aluminium Corp. of China reached 32.65 yuan after rising 5.46 percent.

The market will continue the upward trend in the days to come, boosted by bank and property shares, said Qin Hong, an analyst with Bohai Investment Consulting Co.

"It is highly possible for the Shanghai Composite Index to reach 5,000 points," Qin said.

However, several other experts douted the optimism. As the index climbs higher, profit-taking pressure also increases, they said.

Thursday’s rise came even after the central bank expressed concerns about accelerating inflation, raising the possibility for further monetary tightening, including interest rate hikes.

The country is coming under increasing pressure from price hikes, the People's Bank of China said in its second-quarter monetary report published on Wednesday. It warned food price increases could spread to other consumer products.

The Consumer Price Index, a barometer of inflation, grew 4.4 percent in June and 3.2 percent in the first half of the year, above the 3.0 percent official target. In response, the central bank raised the interest rates on July 20, the third hike so far this year.

Many analysts expect inflation to surpass five percent in July. The official figure is due to be released on Monday.



Top China News  
Today's Top News  
Most Commented/Read Stories in 48 Hours
成安县| 灌云县| 韶山市| 湛江市| 枝江市| 乌拉特前旗| 临猗县| 太原市| 绵阳市| 武平县| 沙田区| 茂名市| 滦平县| 湄潭县| 白城市| 剑河县| 宁武县| 琼海市| 财经| 罗田县| 时尚| 东阿县| 清水县| 延寿县| 电白县| 吉木萨尔县| 湖南省| 达日县| 上虞市| 临武县| 彰化市| 建昌县| 石首市| 舟曲县| 五寨县| 章丘市| 万州区| 五家渠市| 桦南县| 忻城县| 拉萨市|