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SSEC 0.00 +% 28-08
SZSC 7,817.05 -0.13% 28-08
HSI 20,972.29 -2.29% 28-08

eScoop

Chinese Markets Up Slightly on Thin Turnover
on 28-Aug-2008 18:01
Chinese stocks finished slightly higher on Thursday on strong earnings posted by consumer-related companies and speculation on the possible repeal of the stock dividend tax. The two major market indexes were mixed. The Shanghai Composite Index edged up 7.99 points, or 0.34% to close at 2,350.14, while the Shenzhen Component Index dipped 10.11 points, or 0.13%, to 7,817.05 at the closing bell. Aggregate turnover shrank marginally in staying below RMB 45 bln.

Petrochina slid to a record low of RMB 12.83 after reporting a 34.5% YOY decrease in 1H '08 net profit. The country's top oil and gas producer ended at RMB 12.97, down 0.69% from the previous session. Top distiller Kweichow Moutai gained 1% to close at RMB 136.50 after posting a 164% YOY surge in first-half profits.

Property stocks staged a collective retreat as top banking regulator the China Banking Regulatory Commission stated its intention to tighten credit control on commercial property projects. Top property developer China Vanke lost 1.03%, while Gemdale and China Merchants Property Development, the third- and fourth-largest developers by market value, shed 1.33% and 2.70% respectively. Metersbonwe Fashion & Accessories, makers of China's top casual wear brand, surged 36.13% to close at RMB 26.90 in its Shenzhen debut.

 

Announcement Samples


[000727] 20% Stake in Huafei Color Display to be Sold
(28-Aug-08)

[000415] Subsidiaries' Equity to be Sold
(28-Aug-08)

[002093] Raised Funds to Supplement Working Capital
(28-Aug-08)

[000516] 1H 2008 - Net Profit Totals RMB 27.6 Mln
(28-Aug-08)

[000979] 8.5 Mln Restricted Shares to be Auctioned
(28-Aug-08)

[000538] Legal Opinion on 1st 2008 EGM
(28-Aug-08)

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