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Chinese shares rebound Wednesday


20:04, February 27, 2013

BEIJING, Feb. 27 (Xinhua) -- Chinese shares rebounded on Wednesday on the heels of new policies issued by the country's security regulator on Tuesday.

The benchmark Shanghai Composite Index increased 0.87 percent, or 19.88 points, to 2,313.22. The Shenzhen Component Index gained 1.36 percent, or 125.20 points, to 9,333.24.

Combined turnover on the two bourses stood at 172.2 billion yuan (27.65 billion U.S. dollars).

Investor confidence got a boost on Tuesday, when the China Securities Regulatory Commission issued policies to prepare for housing funds to enter the capital market and to lower the threshold on security companies' asset securitization.

Leading the rebound, the military industry sector surged by 3.41 percent. Norinco International Co., Ltd., a large contractor headquartered in Beijing, rose by the daily 10-percent limit to 14.92 yuan per share.

The finance and real estate sectors also turned in active performances, up 2.66 percent and 1.79 percent, respectively.

China Merchants Securities Co., Ltd. ended at 13.77 yuan per share, up 8.43 percent, while Shanghai Xinmei Real Estate Co., Ltd. climbed 6.87 percent to 11.36 yuan per share.

The coal sector reversed declines and saw an increase of 1.15 percent.

Affected by the rumor that Chinese state broadcaster CCTV would suspend liquor advertisements, the liquor sector led declines, down about 1 percent. Several famous Chinese liquor brands such as Tuopai Shede, Laobaigan Liquor and Gujing Distillery led the losses.

The medical device and biopharmaceutical industries also bucked the rebound trend, moving down 1.99 percent and 1.24 percent, respectively.

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Email|Print|Comments(Editor:YaoChun、Zhang Qian)

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