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A-Shares Up, China Investment Corp to Fund Sinopec
0386.HK, 600028.SH, 601390.SH, CIC, China Investment Corporation, China Petroleum & Chemical Corporation, China Railway, China Railway Group Limited, SNP, Sinopec, macro
Posted by: Li Jun on Dec 21, 2007 | 17:12
Editorial Summary
The Shanghai Composite Index rose 1.15 percent to close at 5,101.8 on Friday, while the Shenzhen Composite Index climbs 1.36 percent to close at 1,375.9. Trading volume on the Shanghai and Shenzhen Stock Exchanges reached 103.5 billion Yuan and 49.7 billion Yuan, respectively.
Shares of China Railway Group Limited (601390.SH) continued their rise on Friday, rising 6.22 percent to close at 10.59 Yuan on the Shanghai Stock Exchange.
State-owned investment company China Investment Corporation (CIC) has been in talks with China Petroleum & Chemical Corporation (Sinopec) (600028.SH; 0386.HK; NYSE: SNP) to fund Sinopec overseas acquisitions, reports China Business News quoting an insider. Shares of Sinopec increased 0.3 percent to close at 23.11 Yuan on Friday on the Shanghai Stock Exchange.
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