Shanghai shares rise for a third day in row

freesbee — Thu, 22 Jul 2010 22:22:59 +0000

SHANGHAI’S key stock index yesterday rose for the third straight day, led by new-energy firms on speculation that the government’s massive investment in the sector will boost earnings.
The benchmark Shanghai Composite Index increased 0.26 percent, or 6.66 points, to close at 2,535.39. Turnover shrank to 105.7 billion yuan (US$15.6 billion) from 116.4 billion yuan on Tuesday.
New-energy stocks advanced after the central government released a plan yesterday to invest 5 trillion yuan to develop clean energy in the next decade. The blueprint will focus on reducing reliance on fossil energy and carbon emissions, the National Energy Administration said.
Guangdong Baolihua New Energy Stock Co surged 10 percent to 5.70 yuan. SUFA Technology Industry Co, a leading valve provider for nuclear power plants, climbed 5.6 percent to 20.57 yuan. Guizhou Changzheng Electric Co gained 1.3 percent to 10.39 yuan.
“New energy and other emerging sectors are expected to gain substantial support from the government amid its push to restructure the economy,” said Wang Fan, an analyst from Donghai Securities Co. “These companies may replace the property industry to provide new momentum that will shore up the stock market.”

Airliners also gained after the Civil Aviation Administration of China said domestic carriers carried 21.8 million passengers in June, up 23 percent from a year earlier.

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Shanghai shares rise for a third day in row

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China domestic car market cruises: 63% YoY growth!!

freesbee — Mon, 12 Apr 2010 22:23:01 +0000

China first-quarter sales jumped 76 percent to 3.52 million units. The year is now expected to close at an incredible 17.2 million cars sold. That is roughly 30% more than the US car market and to think that it was only last year that China overtook the US as the largest Auto market in the world.

US company General Motors reported a 68 percent year-on-year sales increase in March. Its sales in China have surpassed those in its home country for the third consecutive month this year.
Japanese automaker Toyota, which was troubled recently by safety issues, experienced a 33 percent year-on-year growth in March, delivering 61,200 vehicles in China.
China’s biggest automaker SAIC said that the booming domestic auto sales boosted its first-quarter net profit which more than quadrupled to 627 million yuan from a year ago, while the Chinese government’s support for smaller cars helped Warren Buffett-backed BYD Co become China’s fourth biggest carmaker last month.
Luxury car brand Mercedes-Benz also reported a 112 percent increase in first quarter sales from last year, while its rival BMW doubled its sales and Audi grew 77 percent over the same period.

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Shanghai shares rise for a third day in row

China domestic car market cruises: 63% YoY growth!!