China A-shares end morning higher as steel firms, property developers gain |
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Tue, 24 Jul 2007 05:12
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SHANGHAI (XFN-ASIA) - China A-shares ended the morning session higher, extending yesterday's rally, as gains in steelmakers and property developers helped offset profit-taking in the insurance sector.Steel firms were in focus after Baosteel Group, China's largest steel maker, signed an agreement with Inner Mongolia's Baotou Iron and Steel (Group) Co Ltd for a strategic alliance, while property stocks were boosted by the yuan's continuing strength.The benchmark Shanghai Composite Index, which covers both A- and B-shares listed on the Shanghai Stock Exchange, ended the morning up 16.88 points or 0.40 pct at 4,230.24.The Shanghai A-share Index rose 17.39 points to 4,437.34 and the Shenzhen A-share Index was up 15.60 points at 1,247.48.The FTSE/Xinhua China A 50 Index was up 130.37 points at 16,139.34, the FTSE/Xinhua China A 200 Index rose 102.39 points to 12,087.83 and the FTSE/Xinhua China A 600 Index added 93.58 points at 10,383.93.(1 usd = 7.56 yuan)lilian.wu@xfn.comxfnlw/xfnrcCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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China A-shares end morning lower due to IPOs; liquor, steel firms hit 