Home China Headline Stocks advance as power firms report profit jump

Stocks advance as power firms report profit jump

CHINESE mainland's stocks rose for a second day, led by brokerages on speculation a market rebound from the steepest slide in a decade will boost revenue, Bloomberg said today. The country's five biggest power companies, including China Huaneng Group and China Datang Corp, advanced after Xinhua news agency said their 2006 profits jumped. ``Brokerages are preferred stocks in a bull market, as bigger trading values will add to their broking revenue,'' said Zhao Zifeng, who oversees the equivalent of US$1.1 billion at China International Fund Management Co in Shanghai. ``The power companies still present opportunities, as the worst time for the power industry is over.'' Trackback(0) TrackBack URI for this entry Comments (0) Subscribe to this comment's feed Show/Hide comments Write comment Show/Hide comment form Name Email Website Title Comment Write the displayed characters Add Comment Copyright 2007. All Rights Reserved.

 

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