BEIJING (XFN-ASIA) - China B-shares ended the morning higher led by large
caps, particularly airlines and property developers, extending gains from
yesterday, dealers said.
The Shanghai B-share Index ended the morning up 0.87 points or 0.34 pct at
259.52 on turnover of 143.89 mln usd, while the Shenzhen B-share Index was up
2.09 points or 0.39 pct at 539.78 on turnover of 129.34 mln hkd.
"The yuan's appreciation and China Vanke's results supported the rise in
property companies," said a Shanghai-based analyst who asked not to be named.
"Lower international oil prices and the yuan's appreciation also contributed
to strength in the airline sector," the analyst added.
Yesterday, the yuan finished at a record 7.0516 to the dollar on the
over-the-counter (OTC) market.
In Shanghai, Shanghai Diesel Engine (SHB 900920; SHA 600841) surged 0.054
usd or 6.9 pct to 0.837, and Hainan Airlines (SHB 900945; SHA 600221) rose 0.029
usd or 3.1 pct to 0.965 usd.
Huaxin Cement (SHB 900933; SHA 600801) rose 0.06 usd or 2.74 pct to 2.25
usd, and Shanghai Zhenhua Port Machinery (SHB 900947; SHA 600320) was up 0.027
usd or 1.94 pct at 1.416 usd.
In Shenzhen, China Vanke (SZA 000002; SZB 200002) jumped 0.54 hkd or 3.66
pct to 15.28, after reporting 2007 net profit growth of 110.81 pct at 4.84 bln
yuan.
Yantai Changyu Pioneer Wine (SZB 200869; SZA 000869) rose 1.09 hkd or 2.64
pct to 42.3, and Shandong Airlines (SZB 200152) added 0.06 hkd or 1.4 pct to
4.35.
The FTSE/Xinhua China B 35 Index was up 51.28 points at 8,646.43.
The benchmark Shanghai Composite Index, which covers both A- and B-shares
listed on the Shanghai Stock Exchange, ended the morning down 41.7 points or
1.10 pct at 3,762.36.
(1 usd = 7.05 yuan)
zachary.wei@xfn.com
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xfnzw/xfntm
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