Chinese Mandarin - Shanghai stock index breaks through 3500

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Shanghai stock index breaks through 3500

www.chinanews.cn 2007-04-12 09:39:55

(Source: Xinhua)

Beijing, April 12 - Chinese shares continued their record setting pace,
soaring to yet another record high on Wednesday, with the benchmark
Shanghai Composite Index nearing the 3,500 after blasting through 3,400
points on Tuesday.
The key stock indicator, which tracks both A- and B-shares, peaked at
3,497.52 points and ended the day at 3,495.22, up 1.48 percent over the
previous close. It rose 50.93 points on Wednesday with turnover of
157.819 billion yuan (20.5 billion U.S. dollars).
The Component Index on the Shenzhen Stock Exchange also gained 101.10
points to close at 9753.77 points on a transaction volume of 83.936
billion yuan (10.9 billion U.S. dollars).
The combined turnover for the two bourses also set a new high of 241.755
billion yuan (31.4 billion U.S. dollars). Turnover on Tuesday was 232.853
billion yuan (30.2 billion U.S. dollars) which was the previous record.
The Shanghai stock exchange recorded 456 gainers and 374 losers, with 62
shares unchanged, while the Shenzhen exchange saw 331 gainers and 253
losers, with 72 shares unchanged. Banking, steel and nonferrous metal
shares again lead the way.
With the Shanghai index continuing to post record highs, analysts with
Shenyin Wanguo Securities say a correction can be expected.
Other analysts, however, believe the bullish trend will be maintained,
backed by the growing national economy.
On Wednesday, the Hushen 300 Index, which tracks stocks on the Shanghai
and Shenzhen stock exchanges, closed at 3,121.32 points, up 39.75 points
from the previous close.

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