Banking sector leads market to small gain
(Shanghai Daily)Updated: 2007-03-10 10:49 Shanghai shares closed slightly higher Friday on the back of a strong performance in the banking sector although most stocks fell.
 Chinese investors watch share movement on an electronic board at a bourse yesterday. [newsphoto]  |
The Shanghai Composite Index, which tracks both yuan-denominated A shares and hard-currency B shares, rose 0.34 percent to 2,937.91, the fourth straight winning session.
A shares gained 0.35 percent to 3,087.02, while the B chips dropped 1.35 percent to 169.75.
The Shenzhen Composite Index, tracking the smaller of the country's two bourses, dipped 0.34 percent to 760.56.
More than half of the stocks on both markets fell. Total trading volume on the two markets was nearly 140 billion yuan (US$18 billion).
"Investors were quite cautious this week despite some good news after the big
plunge on Feb. 27, but the blue chips, especially the banks, helped push the
index slightly higher," said Dong Zheng, an analyst with Daton Securities.
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