A-share market advanced today against oversea markets slump, thanks to strong construction stocks. The market opened gap low and then jumped with the lead of financials. However, cash-in pressure on cement & machinery sectors dragged down key indices after 10 am. In PM session, properties along with construction-related sectors skyrocketed and successfully saved the market from a second losing day.
SHCI gained 0.84%, or 15.50, to 1859.11; SZCI edged up 0.28%, or 16.90, to 6116.67. CSI 300 up 1.15% to 1801.82. Turnover of two bourses shrunk to 61.96bn CNY, 27% lower than the preceding session. Only 84 stocks closed lower in total.
Cement and machinery sectors were among top gainers owing to their eyes-catching rebound during the last trading hour. Fujian Cement (600802), Jiangxi Wannianqing Cement (000789), Hebei Taihang Cement (600553) and Sichuan Golden Summit (600678) were sealed at limit-up as a whole. Xiamen Engineering Machinery (600815) jumped 10% max and Zoomlion Heavy Industry (000157) added 5.67%.
IPP dipped as a whole for people saw 0.465% y/y decrease in Oct. electricity power demand, which was the first negative growth since 1999. Moreover, narrowing demand dampened previous anticipation on power tariff hike. Guangdong Electric Power (000539) lost 2.42% and Huaneng Power International (600011) shed 2.79%.
Department stores tumbled today as slower growth in Oct. retail sales raised concern. Suning (002024) plunged 5.95%, Chongqing Department Store (600729) slid 1.96% and Fujian Dongbai (600693) down 1.26%. Other consumable producers also underperformed, such as Gree (000651, -3.05%) and Henan Shuanghui (000895, -9.52%). | 
发表于 2008-11-12 17:41
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