China B-shares close sharply higher, tracking A-share gains - UPDATE |
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Published
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Wed, 07 Mar 2007 08:55
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SHANGHAI (XFN-ASIA) - B-shares in Shanghai and Shenzhen closed sharply higher, tracking A-share rises with blue chips in demand, dealers said.The Shanghai B-share Index was up 7.53 points at 170.70 on turnover of 565.87 mln usd and the Shenzhen B-share Index was up 13.0 points at 479.51 on turnover of 378.28 mln hkd.'The hard currency market followed a significant rise in their A-share peers on the back of sustained bargain hunting, with blue chips gaining ground,' a Shanghai analyst said.Shanghai Zhenhua Port Machinery Co Ltd (SHB 900947; SHA 600320) was up 0.106 usd or 7.83 pct at 1.46.Hainan Airlines Co Ltd (SHB 900945; SHA 600221) was up 0.035 usd or 5.77 pct at 0.642. Shanghai Jinqiao Export Processing Zone Development Co Ltd (SHB 900911; SHA 600639) was up 0.053 or 5.44 pct at 1.028.On the Shenzhen B-share market, Jiangling Motors Corp Ltd (SZB 200550; SZA 000550) was up 0.64 hkd or 7.02 pct at 9.76.China Vanke Co Ltd (SZB 200002; SZA 000002) was up 0.55 hkd or 4.51 pct at 12.75.Shenzhen Chiwan Wharf Holdings Ltd (SZA 000022; SZB 200022) was up 0.82 hkd or 5.82 pct at 14.90. It said it handled 4.787 mln tons of cargo in February, up 48.1 pct year-on-year.Guangdong Electric Power Development Co Ltd (SZA 000539; SZB 200539) was down 0.04 hkd or 0.69 pct at 5.74. It has denied a report that parent Guangdong Yudean Group is considering listing as a group in Hong Kong and plans to delist Guangdong Electric Power after floating in Hong Kong.The FTSE/Xinhua China B 35 Index was up 218.23 points at 6,549.56.The benchmark Shanghai Composite Index, which covers both A- and B-shares listed on the Shanghai Stock Exchange, closed up 56.42 points, or 1.99 pct, at 2,896.59, after moving between 2,849.65 and 2,911.42.Turnover rose to 73.84 bln yuan from 63.99 bln in the previous session.(1 usd = 7.75 yuan; 7.8 hkd)lake.xu@xinhuafinance.com
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Asian stockmarket summary - Jan - 19 - 2007 