1. Text: | Print|

      Shanghai stock index hits highest level in five years

      2015-01-06 08:11 Global Times Web Editor: Qin Dexing
      1

      Stock market more divided as blue chips win, small firms tumble

      More than 700 Shanghai-listed stocks gained on Monday, sending the benchmark Shanghai index to its highest level in five years and fueling market expectations of a bull year in 2015.

      The Shanghai Composite Index (SCI) closed at 3,350.52 points on the first trading day of 2015, up 3.58 percent. The Shenzhen Component Index also rose 4.59 percent to 11,520.59 points, the highest level in nearly 40 months.

      China's sluggish A-share market has reversed its downward trend since the second half of 2014. The benchmark SCI surged 52.87 percent last year, allowing the A-share market to surpass Japan's stock market to become the world's second-largest in terms of market value.

      "The Chinese mainland stock market continues to be active in 2015, fueling investors' expectations of another bumper year," Li Daxiao, chief economist with Shenzhen-based Yingda Securities Co, told the Global Times Monday.

      Nearly 90 stocks on the two bourses jumped by the daily limit of 10 percent on Monday. Shares in the coal, oil and gas, non-ferrous metal and property sectors led the gains, with 34 coal firms, including Yanzhou Coal Mining Co and China Shenhua Energy Co and two oil giants, PetroChina and Sinopec, soaring by 10 percent.

      "A raft of new policies boosted the robust performance of energy shares, but their growth momentum might not be sustained," Shen Meng, director of investment banking firm Chanson&Co, told the Global Times Monday.

      The Ministry of Finance has slashed export tariffs for coal since January 1, a move to support domestic coal firms that were suffering from a slump in coal prices and industrial overcapacity.

      Also starting from 2015, the MOF has raised the exemption threshold on the so-called "windfall tax" on upstream oil producers to $65 per barrel of crude oil from $55 previously, which industry analysts said could help three State-owned petrol giants reduce their tax burden by 30 to 50 billion yuan ($4.82-$8.04 billion).

      However, the ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, closed 0.48 percent lower at 1,464.77 points on Monday.

      "The mainland stock market has become more divided, with small-cap shares, speculative stocks and junk stocks facing growing risks of a bubble burst," Li said.

      The robust performance of the mainland stock market has been mainly led by blue chips such as those in the banking and oil sectors, however, many shares in small firms have plummeted amid the bullish market.

      Overseas funds have begun to flow into blue-chip shares since the launch of the Shanghai-Hong Kong Stock Connect program in mid-November, and partiality toward these blue chips is expected to continue in 2015, Shen said.

      Analysts expect the mainland stock market will maintain its gains this year, despite China's economy still facing downward pressure.

      China's ongoing comprehensive reforms will help boost the A-share market in 2015, Li said, citing the internationalization of the capital market and the implementation of delisting rules and new listing procedures.

      Shen noted that the mainland stock market will also become more mature with further opening-up.

      "The market used to be bothered by short-term speculation, but with more professional investors' participation through the Shanghai-Hong Kong Stock Connect scheme, the market can reflect the real value of listed companies," he said.

      Comments (0)
      Most popular in 24h
        Archived Content
      Media partners:

      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 久久国产精品成人免费| 国产黄在线播放免费观看| 一级毛片免费播放| 亚洲AV中文无码字幕色三| 怡红院免费的全部视频| 亚洲色精品aⅴ一区区三区| fc2免费人成为视频| jlzzjlzz亚洲乱熟在线播放| 狠狠躁狠狠爱免费视频无码| 亚洲va久久久噜噜噜久久| 国产精品免费福利久久| 亚洲精品国产情侣av在线| 麻豆最新国产剧情AV原创免费| 亚洲人妖女同在线播放| 性做久久久久免费观看| 在线观看免费亚洲| 国产亚洲精午夜久久久久久| 免费网站看av片| 精品亚洲成在人线AV无码| 国产成人免费A在线视频| 中文字幕在线免费看| 亚洲精品私拍国产福利在线| 91免费资源网站入口| 免费福利资源站在线视频| 亚洲精品无码永久在线观看你懂的| 91精品全国免费观看含羞草 | 亚洲宅男精品一区在线观看| 卡1卡2卡3卡4卡5免费视频| 老司机免费午夜精品视频| 国产国拍亚洲精品mv在线观看| 成年黄网站色大免费全看| 在线精品自拍亚洲第一区| 久久亚洲国产精品五月天| 成年女人18级毛片毛片免费观看| 一级毛片免费播放男男| 久久久国产精品亚洲一区| 免费观看的av毛片的网站| 日本免费久久久久久久网站| 欧洲亚洲综合一区二区三区| 亚洲国产精品久久久久网站| 又大又粗又爽a级毛片免费看|