Home China Headline Stocks smash record after new year dawns

Stocks smash record after new year dawns

Shanghai's benchmark stock index continued its rally into the new lunar year, closing yesterday for the first time above the 3,000 mark as trading resumed following the weeklong Spring Festival. The Shanghai Composite Index, which tracks yuan-denominated A shares and hard-currency B shares, jumped 1.40 percent to 3040.60, the best close since the bourse started trading in 1990. Volume fell to 92.65 billion yuan (US$11.88 billion), compared with 95.98 billion yuan on February 16, the last trading day before the holiday break. "Today's market performance probably reflects similar sentiment recorded on the Hong Kong stock exchange over the past few days," Wu Jianxiong, an analyst at Guotai & Jun'an Securities Co, told Shanghai Daily yesterday. "Just as we expected, banks led the declines and metal companies were the main gainers." 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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