0 Comment(s)
Print
E-mail Xinhua, April 13, 2012
Chinese shares rallied slightly Friday after China's statistical authority announced the country's economic growth slowed to 8.1 percent in the first quarter, from 8.9 percent in the fourth quarter of last year.
The benchmark Shanghai Composite Index rose 0.35 percent, or 8.3 points, to end at 2,359.16.
The Shenzhen Component Index gained 0.36 percent, or 36.06 points, to close at 10,043.72.
The combined turnover increased to 178.8 billion yuan (28.4 billion U.S. dollars) from 165.5 billion yuan the previous trading day.
Gainers outnumbered losers by 614 to 268 in Shanghai and by 973 to 401 in Shenzhen.
Shares began trending downward after the National Bureau of Statistics said first-quarter growth fell to 8.1 percent, the slowest in 11 quarters. The growth failed to match market expectations of 8.3 to 8.5 percent.
However, the stock markets began shifting upward in the afternoon trading session, boosted by cement and Shenzhen-related shares.
Huaxin Cement Co. Ltd. rose 4.27 percent to 15.38 yuan per share; Fujian Cement Inc. jumped 7.82 percent to 8.96 yuan.
The Shenzhen authority Thursday approved a set of documents which included pilot reform programs in bonds, private equity and yuan cross-border trade, and aimed to boost small enterprises and strategically emerging industries such as new energy research and development.
Shenzhen Tagen Group Co. Ltd. jumped by the daily limit of 10 percent to 9.46 yuan; Shahe Industrial Co. Ltd. also surged 9.97 percent to 7.39 yuan.
Go to Forum >>0 Comment(s)