Construction Sector Shows Strong Growth
[2009-06-12]
June 10, the Shanghai Composite Index .SSEC ended up 28.36 points at 2,816.247 points, climbing 55 percent since the start of the year.
Gaining Shanghai A shares outnumbered losers by 642 to 219, while turnover in Shanghai A shares rose to 143.8 billion yuan ($21.1 billion) from Tuesday's 132.9 billion yuan.
Construction-related shares were strong, with contractors China Railway Erju (600528.SS), Hebei Taihang Cement (600553.SS) and Tengda Construction Group (600512.SS) climbing by their 10 percent daily limit.
"Shares that have lagged in the rally up until now, such as construction-related stocks, are catching up," said Xiangcai Securities analyst Wu Nan. "Money is pouring into sectors with relatively low valuations."
Investor interest was reflected in a rise in the number of newly added trading accounts to 317,509 last week, the highest in the past six weeks, the official China Securities Journal said.
Gaining Shanghai A shares outnumbered losers by 642 to 219, while turnover in Shanghai A shares rose to 143.8 billion yuan ($21.1 billion) from Tuesday's 132.9 billion yuan.
Construction-related shares were strong, with contractors China Railway Erju (600528.SS), Hebei Taihang Cement (600553.SS) and Tengda Construction Group (600512.SS) climbing by their 10 percent daily limit.
"Shares that have lagged in the rally up until now, such as construction-related stocks, are catching up," said Xiangcai Securities analyst Wu Nan. "Money is pouring into sectors with relatively low valuations."
Investor interest was reflected in a rise in the number of newly added trading accounts to 317,509 last week, the highest in the past six weeks, the official China Securities Journal said.
Source: cementchina.com
Keywords:ConstructionCement
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