Home>News Center>China

China shares pick up from six-year low
Updated: 2005-05-18 08:41

China's shares inched up 0.4 percent Tuesday, bouncing off the previous session's six-year closing low, as large caps such as Huadian Power International Corp. Ltd. rose amid bargain hunting.

The benchmark Shanghai composite index, which had chalked up a fresh six-year low of 1,095.468 points by Monday's close, closed higher at 1,099.640 points.

Big chips, which had born the brunt of heavy slumps in recent sessions, perked up Tuesday.

Huadian Power, China's third-largest listed electricity producer, jumped 3.4 percent to 2.74 yuan (US$0.33) after having slumped 17 percent since last week.

Wuhan Iron and Steel Co. Ltd., the country's number-three steelmaker, ended up 0.9 percent at 3.41 yuan. It had lost more than 2 percent a day earlier.

The benchmark index is down some 5 percent since the Central Government revived a plan to offload massive government holdings in listed firms in late April.

"The market could manage a small rally in the latter part of this week, but it will still be obsessed with lingering bearishness," said analyst Liu Bo at Founder Securities.

Sinopec Corp., Asia's top refiner, dipped 2.8 percent to 3.89 yuan after outperforming the index last week.

China's index has dived 13 percent so far in 2005, extending a 15 percent fall last year.

  Today's Top News     Top China News

Washington raising tensions over China's currency



Fortune for all in Asia's century



New law to protect online copyright



Wu Yi to meet Koizumi in Japan



China 'sincere' about ties with Vatican



EU to launch consultations on textile imports


  China shares pick up from six-year low
  Bank regulator brew more lending to small companies
  Fortune for all in Asia's century
  Hu Jintao meets Kissinger in Beijing
  China denies arranging Rice visit to Pyongyang
  China will act on yuan, but on its terms
  Go to Another Section  
  Story Tools  
  Related Stories  
Share flotation details announced
China to liquidate No 5 securities broker
Legal protection for stockholders
China's stocks regulator ready to act
Stock market slumps to 6-year low
1st unified index of bourses to be released
  News Talk  
  It is time to prepare for Beijing - 2008