综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Business / Finance

China stocks up on preferred stock trial

(Xinhua) Updated: 2014-03-21 17:15

China stocks up on preferred stock trial

Will stock market brace for more falls in 2014?

China stocks up on preferred stock trial

 Happy start to new year for China amid bad news elsewhere

BEIJING - Chinese shares rose sharply higher Friday on the announcement of regulations for a preferred stock trial by the country's securities regulator on Friday.

The China Securities Regulatory Commission (CSRC) Zhao Xiaojun said the trial is an important reform to China's capital market. The cabinet decided in late November to launch the trial and specific rules are now available.

The benchmark Shanghai Composite Index jumped up 2.72 percent, or 54.14 points, to finish at 2,047.62.

The Shenzhen Component Index rose 3.48 percent, or 243.37 points, to close at 7,241.57.

Combined turnover on the two bourses expanded to 228.73 billion yuan ($37.21 billion) from 209.15 billion yuan the previous trading day.

Qin Xiaobin of China Galaxy Securities said the preferred stock pilot was a major driving force in Friday's strong rally. Preferred stocks are senior to common stock in terms of dividend payment and assets, and the trial could boost direct financing, cater to diversified needs of investors and facilitate the mergers and acquisitions among enterprises.

"The market was boosted by government measures recently despite concern of a slowdown. Those measures include the urbanization plan and approval for construction of five railways by the National Development and Reform Commission," Qin said.

China's cabinet expects economic growth within a "reasonable range" and wants measures in place as soon as possible to expand the domestic market and stabilize growth.

Banks rose across the board with the Industrial and Commercial Bank of China, the nation's largest State-owned lender, rising 1.83 percent to 3.34 yuan per share; China Construction Bank, the second largest, rose 2.38 percent to 3.87 yuan. The banking sector jumped 4.39 percent.

Real Estate sector also registered strong gains with China Vanke, China's largest property developer, surging 6.66 percent to 8.01 yuan. Brokerage firms gained 4.7 percent and the coal sector went up 4.48 percent.

Related:

CSRC grants approval for developers' refinancing

China yuan weakens to 6.1475 against USD

Singapore Exchange to introduce China A50 futures options

China's 'baby boom': cradle of financial reform?

Flawed IPO reform crippling market: Experts

SSE to speed development of blue-chip market

Domestic PE market suffering second year of decline

China stocks up on preferred stock trial China stocks up on preferred stock trial
 China's CSI300 index in biggest loss in 7 months

Hot Topics

Editor's Picks
...
...
正阳县| 封开县| 三穗县| 清镇市| 金平| 泰顺县| 林西县| 嘉峪关市| 邵武市| 鹤岗市| 永寿县| 南岸区| 德江县| 罗甸县| 昭通市| 新巴尔虎右旗| 仁怀市| 天全县| 涡阳县| 子洲县| 湖州市| 莲花县| 营山县| 承德县| 成安县| 二连浩特市| 仲巴县| 江华| 米泉市| 平陆县| 盐津县| 兴安盟| 桐乡市| 应城市| 镇坪县| 资中县| 威海市| 泸西县| 固镇县| 英山县| 甘孜县|