Shanghai index hits record high, 03/21

(China Daily)
Updated: 2007-03-22 09:42

China's stock index rose for a third day and hit a record high yesterday. The Shanghai Composite Index added 0.83 percent to 3057.38. A total of 626 companies gained on the Shanghai A-share market, while 151 saw losses. Turnover was active, at 89.3 billion yuan.

Banking stocks are still a favored sector because of their solid fundamentals and fast earnings growth, analysts said.

China Minsheng Banking Corp rose 1.02 percent to 11.89, after UBS AG raised its rating for the stock.


(For more biz stories, please visit Industry Updates)

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