日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

USEUROPEAFRICAASIA 中文雙語Fran?ais
China
Home / China / Business

Stocks rally on talk of gov't support

By Irene Shen | China Daily | Updated: 2011-10-13 07:49

SHANGHAI - Stocks on the Chinese mainland rallied on Wednesday, spurring the biggest gain for the benchmark index in a year, on speculation the government is seeking to bolster the share market after valuations dropped to record low levels.

Haitong Securities Co led a rally for brokerages after Xinhua News Agency reported that regulators approved cross-border exchange-traded funds.

China Minsheng Banking Corp surged the most in seven weeks as banks extended Tuesday's rally after Central Huijin Investment Ltd began buying shares of lenders.

Rolling stock producers CSR Corp and China CNR Corp rose more than 4 percent after the 21st Century Business Herald reported that their parent companies might get cash injections from the government.

The Shanghai Composite Index advanced 71 points, or 3 percent, to 2420, the most since Oct 15, 2010. The CSI 300 Index gained 3.6 percent to 2644.76.

Central Huijin's move was a flashpoint, boosting investors' confidence and buying sentiment," said Wu Kan, a fund manager at Dazhong Insurance Co, which manages $285 million.

"The government's move fueled speculation that China's stocks are undervalued."

The Shanghai Composite Index has tumbled 14 percent this year, driving down estimated price earnings to 11.2 times, compared with the record low of 10.8 times set on Oct 10, according to data compiled by Bloomberg.

Stocks have fallen as the government raised interest rates and reserve-requirement ratios for banks to cool inflation that's at the highest level in almost three years.

Inflation probably eased to 6.1 percent in September from 6.2 percent in August, according to the median forecast of economists in a Bloomberg survey. The data are scheduled to be released on Oct 14. Consumer prices rose 6.5 percent in July.

A gauge of financial companies in the CSI 300 surged 4.5 percent, the most among the 10 industry groups.

The China Securities Regulatory Commission has approved cross-border exchange-traded funds (ETF), Xinhua reported, citing an unidentified person.

ETFs mimic the performance of an index and trade like stocks. Chinese investors may benefit from exchanges' plans to introduce ETFs tracking overseas indexes as they currently have limited access to foreign stocks.

Central Huijin bought 14.6 million Shanghai-listed A shares in ICBC, 7.38 million yuan-denominated shares of China Construction Bank Corp, 39.1 million shares in Agricultural Bank Ltd and 3.5 million shares in Bank of China Ltd, the four lenders said in statements to the Hong Kong and Shanghai stock exchanges.

Bloomberg News

Editor's picks
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 青娱乐成人 | 欧洲影院 | 亚洲午夜影视 | 日本久久影视 | 激情狠狠 | 国产在线精品视频 | 中文字幕在线观看亚洲 | 97超碰资源站 | 色婷婷小说 | 成人小视频在线播放 | 在线观看视频一区二区三区 | 日本欧美国产在线 | 亚洲va视频| 亚洲黄色在线播放 | 免费av免费看 | 国产亚洲欧美日韩高清 | 亚洲精品黄色 | 牛牛视频在线观看 | www一区二区三区 | 好吊色视频在线观看 | 伊人久久久久久久久久 | 99热国内精品 | 老地方在线高清观看动漫 | 亚洲成人91 | 极品少妇一区二区 | 美国成人免费视频 | 久热亚洲| 欧洲av一区 | 亚洲春色另类 | 超碰97人人爱 | 亚洲图色在线 | 波多一区二区 | 日本在线观看网址 | 一区二区三区四区免费 | 成人黄色a | 国产欧美激情 | 欧洲一区二区视频 | 免费啪视频在线观看 | 韩日产理伦片在线观看 | 欧美日韩久久久久久 | 成人精品在线看 |