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Stock indices keep breaking records for 2nd day

By Li Zengxin (chinadaily.com.cn)
Updated: 2007-05-22 16:32

On the second trading day after last weekend's tightening measures, Chinese stocks continued a bull run, with indices making new records.

The Shanghai Composite Index, opened higher from 4,091.14, and finished at 4,110.38, up 38.15 points or 0.94 percent as a new record high. The benchmark index ran through the morning session on a strong upward trend, but the driving force faded a little in the afternoon with a several drawbacks. But for the whole day, the drops did not post real threat of a rising trend, with the index flowing within a range of 4,086.83 to 4,136.63.

The Shenzhen Component Index tracking the smaller Shenzhen Stock Exchange had a similar mapping. It opened also higher, and ended 1.13 percent up at 12,407.83, another record. Of the A shares, 391 closed up, 123 went down and 95 ended flat.

At the Shanghai Stock Exchange, 581 stocks went up, but 183 down and 76 flat. Shanghai Bingxiong Fresh-Preservation Equipments was the top gainer, with its share price rising 10.47 percent to 12.13 yuan. Hunan Changfeng Motors and Yunan Malong Chemicals and Construction also saw their share prices sealed at the maximum cap while Aerosun dropped 4.35 percent as the biggest loser. China Unicom with the largest trading volume and transaction value dropped 0.62 percent to 6.38 yuan in the morning.

In the Shenzhen market, Beihai Port and Hunan Jinguo Industrial were top gainers, while Zhejiang Hangzhou Xinfu Pharmaceutical led the fall again. China Vanke ranked on top in terms of both trading volume and transaction value.

Media sector ranked on top of the rising wave, with index went up 4.67 percent. Hunan TV and Broadcast Intermediary rose 10.02 percent to 23.60 yuan. Beijing Gehua CATV Network was also leading the run. Companies in the transportation industry were also the best performers this morning.