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A-Shares Up With Coal And Record High CPI
000983.SZ, 1088.HK, 600188.SH, 601088.SH, CPI, China Shenhua Energy, Xishan Coal and Electricity Power, Yanzhou Coal Mining, consumer price index
Posted by: Li Jun on Mar 11, 2008 | 19:03
Editorial Summary
After the National Bureau of Statistics announced China's consumer price index (CPI) rose 8.7 percent year-on-year in February, the Shanghai Composite Index increased 0.47 percent to close at 4,165.9, while the Shenzhen Composite Index rose 0.41 percent to close at 1,324.4 on Tuesday. Trading volume on the Shanghai and Shenzhen Stock Exchanges, however, was down to RMB79.6 billion and RMB36.9 billion, respectively. The February CPI came as the highest annual level since 1997 with food prices increasing 23.3 percent.
Coal stocks were up in Shanghai on Tuesday with shares of Shandong-based Yanzhou Coal Mining Company Limited (600188.SH), China Shenhua Energy Company Limited (601088.SH; 1088.HK) and Xishan Coal and Electricity Power (000983.SZ) rising 6.85, 4.29 and 3.63 percent to close at RMB21.38, RMB50.03 and RMB43.42, respectively.
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