Dopo la lunga pausa festiva riapre Shanghai conquistando un nuovo record ad un soffio dai 4000 che potrebbe rallentare la corsa dell'indice.
Mainland stocks rise to record at noon break
2007-5-8
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CHINESE Mainland stocks rose to a record, posting the biggest gains in the region, as funds poured in to the market after a week-long holiday. Citic Securities Co and China Vanke Co led the advance.
The Shanghai Composite Index, which tracks the bigger of domestic stock exchanges, rose 2.9 percent to 3,952.09. The Shenzhen Composite Index, which covers the smaller one, added 3.5 percent, to 1,101.73.
``Investors have had to wait for the end of the holiday to buy more stocks,'' said Lu Yizhen, who oversees US$640 million of shares at Citic-Prudential Fund Management Co in Shanghai. ``It's obvious that cash is flooding in as brokerage account openings are growing rapidly.''
About 1.5 million new trading accounts were opened at China's brokerages in the week ended April 27, with a daily record of 311,110 having been set on April 24, according to the latest figures published on the Website of the China Securities Depository and Clearing Corp.
China's central bank Governor Zhou Xiaochuan on May 6 expressed concern that local shares are rising too fast.
``Yes,'' Zhou told reporters in Basel, Switzerland when asked if he's worried that an equity bubble may be building.
Citic Securities, the nation's biggest publicly-traded brokerage, gained 2.43 yuan (30 US cents), or 4.1 percent, to 61.49 yuan.
China Vanke, China's biggest publicly-traded real estate developer, jumped 1.81 yuan, or the 10 percent daily limit, to 19.89 yuan. COFCO Property (Group) Co, the publicly traded unit of the country's largest grain trader, rose 2.22 yuan, or the 10 percent daily limit, to 24.37 yuan. Poly Real Estate Group Co, China's third-largest developer by market value, surged 2.87 yuan, or 9.6 percent, to 32.81 yuan.
``Cash is flooding the stock market, there is a bubble building up,'' Lu said. ``At some point, it will burst and the last investors will suffer.''
Copper and zinc futures in Shanghai surged by the daily limit of 4 percent as investors bought the metals to bring prices more in line with international markets, which rose during China's week-long Labor Day holiday.
Copper for delivery in July on the Shanghai Futures Exchange rose 1,490 yuan, or 2.1 percent, from the April 30 close to 72,480 yuan a metric ton at 10:02am local time. The contract was up 4 percent from the previous settlement price, the daily limit allowed by the exchange.
Anhui Tongdu Copper Stock Co, the listed arm of China's biggest producer of the metal, rose 0.59 yuan, or 3.7 percent, to 16.44 yuan. Jiangxi Copper Co, China's second-biggest producer of the metal, gained 0.92 yuan, or 3.7 percent, to 26.04 yuan.
questi continuano ad aprire conti trading....ma che quazzo tradano dalle risaie con il wirlesss??? ma VDALALQQQQ prendono una sberla che neanche loro lo sanno
pensavo effettivamente all'orsacchiotto... 