The incorporation of large companies China Construction Bank and Shenhua China into the Shanghai Composite Index is altering the weighting structure of the benchmark index, Xinhua reported (in Chinese). Industry analysts said as large blue-chip stocks continue to enter the A-share market, the index will better reflect the country's economic performance. Currently the top 30 […]
Category: Economics & Trade
[photopress:real_estate_Shanghai_fair.jpg,full,alignright]It was residential properties within Shanghai’s Middle and Outer Ring roads that were the top sellers at a closed real estate fair. They went for an average price of RMB15,000 yuan ($1,987) per square meter. The fair attracted 180 property developers and service providers from both the city and neighboring provinces who offered nearly 300 […]
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Shanghai escapes worst of storm
Tropical storm Krosa caused torrential downpours in southeast China on Monday but meteorologists said the storm would not directly hit Shanghai as it moves inland, AFP reported. Krosa hit the coasts of Fujian and Zhejiang provinces on Sunday as a fully fledged typhoon, with winds of up to 126 kilometers per hour. However, it soon […]
China's stock markets re-opened strongly after the weeklong break with the Shanghai Composite Index (SCI) rising 2.5% on Monday to close at a new record high of 5,692.76 points, the Wall Street Journal reported. The previous high was set on Friday, September 28, the last pre-holiday trading day. Analysts said investors were buying blue chips […]
China Shenhua Energy nearly doubled on its trading debut in Shanghai Stock Exchange Tuesday, Xinhua reported (in Chinese). The company, China's biggest coal miner, opened at RMB68 (US$9.05) per share, jumping 83.8% from its initial price of RMB36.99 (US$4.93). The miner has issued 1.8 billion yuan-denominated shares and raised a record US$8.87 billion, making it […]