Economy

Markets

Industries

Insights

Reports

Events

Stock indices keep breaking records, 05/22

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

Along with the two indices both hitting record high yesterday, the average share price doubled. By Monday's closing, the weighted average price of all floating A shares was 15.36 yuan, up 107 percent compared with that by the end of 2006. On the two exchanges, shares with prices lower than 8 yuan accounted for less than 4 percent of the total number of listed companies.

Securities houses also gain from the bull market. By Monday, 63 brokerages announced their 2006 results, showing enhanced profitability and improved risk control. The 63 securities firms, accounting for 60 percent of the total had combined net asset of 74.919 billion yuan by the end of last year and total net profit of 20.319 billion yuan for 2006.

In the first five months, the qualified foreign institutional investors (QFIIs) realized a higher return from shareholdings than domestic funds. QFIIs gained 7.2 percent from holding A shares while investment funds had an average return of 5.08 percent, according to the Securities Times. By Monday, QFIIs held A shares with a total market value of 48.238 billion yuan while funds held stocks worth 674.336 billion yuan, 13 times more than QFIIs.

The good performances of returning H shares are attracting more mainland firms listed overseas to come back home. The China Securities Regulatory Commission has made clear to support six large enterprises listed in Hong Kong to list in the domestic A-share market in the second half, according to the 21th Century Economic News. They are PetroChina, CNOOC, China Mobile, China Telecom, China Construction Bank and Shenhua Energy. But the six companies haven't make specific schedules for the listing, according to sources close to the issue.

   Previous page 1 2 Next Page  

   Previous page 1 2 Next Page