Category: Money Tips Date: 2007-04-24
Source: The Economic Observer
Shanghai and Shenzhen A shares Tuesday severe shock to the trend in the decline stopped in the strong rebound of more than 2%. Morning continuation of the trend once extended losses yesterday plunged more than 7%, the afternoon began, A shares in the petrochemical, iron and steel, as well as banks and other large-cap stocks rose, led by stabilized and over and over again, the highest point of the last bits are close to the date of closing. The Shanghai Composite Index led slightly to close at 3,700 points, close follow-up. Stock up more or less daily limit the number of individual stocks since last Tuesday at home over daily limit the number of transactions significantly larger today.
Today, the Shanghai Composite Index rose 96.70 points, or 2.63 percent, at 3,767.10 points on turnover of 1,792.1 billion yuan, volatility interval 3,404,15 points to 3,768.56 points; Shanghai and Shenzhen 300 index rose 123.20 points, or 3.51 percent, at 3,634.63 points; Shanghai A Shares index rose 99.51 points, or 2.58 percent, at 3,949.89 points on turnover of 1,750.7 million; Shenzhen A stock index rose 25.42 points, or 2.34 percent, at 1,113.58 points on turnover of 91.35 billion.
Message surface, following yesterday's China Securities Journal and other financial mainstream media good article, today's management and then a good stabilize the stock market. Including Invesco Great Wall, Yimin, including a number of the fund company's four new funds approved to issue the same time yesterday. This is four more than the fund for the partial stock-type funds, is expected to be on sale next week.
Galaxy shares, chief fund analyst Hu Lifeng, said a large number of new funds over a month approved a standstill again after passing out of the management issued a clear policy signal that management hopes to increase the supply of new funds to boost market confidence, stable stock price.
Analysts believe that today, the stock market came to understand the management's intention to climb a rebound include management, retail and institutional investors and other parties the most satisfactory trend.
Although the nature of a technical rebound up arrived late one day, but drop in a row lead to market confidence of the parties dropped the case of rebound is also reassuring.
Approved the issuance of the new fund will be blue chips as Jiancang right image, thus to promote petrochemical, iron and steel, as well as banks and other blue chips the first to rebound, which is today's broad market can be stabilized significantly increases the determining factor.
Volume re-amplification showed that the trace, as bargain-hunting approach. In addition, the majority of individual investors from selling at low prices to active transactions to cover short positions also made a substantial amplification today.
Analysts believe that today's rebound means that since last Wednesday dropped since the end of a temporary trend. As individual investors are no longer continue to sell into, institutional investors have begun to do more and more are expected tomorrow in Shanghai and Shenzhen A shares will continue to rebound.
A-share market stocks continue to rise more or less, in 1,335 companies, up 703, down 622, 10 No Change. In addition to ST stocks, there are 65 stocks daily limit, but there are 42 stocks lower limit.
Blue-chips fell from the general to the overall significantly higher.
Almost all bank shares rise, Minsheng Bank rose 2.97%, to close at 12.47 yuan; China Merchants Bank rose 2.63%, to close at 21.79 yuan; Industrial and Commercial Bank of China rose 1.80 percent, to close at 5.08 yuan; Bank of China rose 1.76 percent, to close at 5.19 yuan; Shanghai Pudong Development Bank rose 1.08%, to close at 32.79 yuan; only the Industrial Bank fell 0.21%, to close at 28.37 yuan.
Iron & Steel stocks rose across the board, Handan Iron & Steel closed limit-plate (10.03%), closed 7.02 yuan; Maanshan Iron & Steel shares rose 5.69 percent, to close at 7.61 yuan; Baosteel No Change, to close at 11.26 yuan.
Petrochemical shares rebounded sharply afternoon, Sinopec rose 6.15 percent, to close at 14.49 yuan; S decreased slightly by 1.18% on the petrochemical, to close 12.55 yuan.
Insurance stocks mixed, with China Life up 2.65%, to close at 34.86 yuan; but China Ping An fell 0.04 percent, to close at 56.99 yuan.
Other blue chips, the Shanghai Auto rose 3.39%, to close at 14.62 yuan; China Unicom rose 1.86 percent, to close at 5.49 yuan; China Yangtze Power rose 0.24%, to close at 12.75 yuan.
Morning Stock fund large-scale lower limit Awkwardness general rise in the afternoon, 16 stocks closed limit-Non-ST. Weifu tech rose 10.04 percent, to close at 15.57 yuan; Guangzhou Shipyard International Co rose 9.99 percent, to close at 43.80 yuan; tunnel shares rose 9.98 percent, to close at 11.90 yuan.
Real estate stocks have also changed the trend of a strong rebound in morning market slump, there are two daily limit of non-ST shares. China Merchants Property rose 10.00%, to close at 48.49 yuan; A Vanke rose 9.28 percent, to close at 17.90 yuan; Poly Real Estate Group rose 6.08 percent, to close at 37.67 yuan.
London copper futures hit a high of two weeks, including non-ferrous metals, including copper stocks have a stimulating effect. Yunnan Copper closed limit-plate (10.00%), received 30.69 yuan; Jiangxi Copper up 5.41%, to close at 24.92 yuan; HTC shares also closed at limit-plate (10.00%), received 46.07 yuan.
In addition, the broker, coal and machinery, plate also has a good performance. Hongyuan Securities brokerage stocks closed limit-plate (10.00%), received 31.45 yuan; coal stocks closed limit-Datong Coal Industry (10.01%), received 22.75 yuan; Taiyuan Heavy Machinery stocks closed limit-plate (10.01%), received 20.99 yuan.
Although the United States has denied Caterpillar Inc. (Caterpillar Inc) to establish joint venture or transfer of shares to its rumors, but Sany Heavy Industry rose 8.13 percent today, to close at 35.90 yuan. Some analysts believe the company secretaries to directorate May 31 total of more than 1.45 million yuan to buy the news of their own company's stock price also has a supportive role.
