男女羞羞视频在线观看,国产精品黄色免费,麻豆91在线视频,美女被羞羞免费软件下载,国产的一级片,亚洲熟色妇,天天操夜夜摸,一区二区三区在线电影

Stocks rally on talk of gov't support

Updated: 2011-10-13 09:46

By Irene Shen (China Daily)

  Comments() Print Mail Large Medium  Small 分享按鈕 0

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

Related Stories

Chinese stocks rise more than 3% -- Oct 12 2011-10-12 15:51
China's bank stocks gain -- Oct 11 2011-10-11 16:59
主站蜘蛛池模板: 南漳县| 盖州市| 叶城县| 宁强县| 鞍山市| 宁安市| 青田县| 永和县| 宜城市| 建瓯市| 澳门| 西昌市| 辉南县| 毕节市| 正安县| 秭归县| 登封市| 临颍县| 永嘉县| 磐石市| 贡觉县| 拜泉县| 淅川县| 屏边| 铜陵市| 板桥市| 集安市| 耒阳市| 桑植县| 长沙市| 江油市| 沁水县| 东光县| 错那县| 康乐县| 霍山县| 上杭县| 股票| 石棉县| 翁牛特旗| 云龙县| 谢通门县| 海林市| 拉萨市| 定边县| 礼泉县| 阿坝| 赤壁市| 鹰潭市| 平舆县| 横峰县| 吉林市| 桃园市| 柘城县| 盐山县| 江川县| 定兴县| 泸西县| 兴隆县| 望江县| 林周县| 新营市| 肇东市| 来宾市| 海原县| 兰西县| 临安市| 明溪县| 甘孜县| 陆丰市| 息烽县| 丰县| 紫金县| 交口县| 防城港市| 天长市| 平塘县| 兰西县| 清流县| 南丹县| 黄梅县| 海丰县|