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China stocks reach new high  

2007-07-26 20:09:57|  分类: 股市 |  标签: |举报 |字号 订阅

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China stocks reach new high

By Dong Zhixin (chinadaily.com.cn)
Updated: 2007-07-26 15:32


Investors monitor stock price movements at a brokerage in Changchun, Northeast China's Jilin Province July 26, 2007. [newsphoto]

China's main stock index reached a new high on Thursday boosted by strong corporate earnings and regaining investor confidence.

The Shanghai Composite Index opened 0.55 percent higher at 4,347.78 points, breaking the previous high of 4,335.96 set on May 29.

At one point, it climbed to 4,371.51, but lost steam gradually and closed at 4,346.45, an increase of 0.52 percent over Wednesday's close, after touching an intra-day low of 4,304.19. The Shenzhen Composite Index gained 1.52 percent to 1,231.64.

The rise was mainly fueled by strong earnings in listed firms. As of Wednesday, 86 public companies have released their mid-term reports, registering a 58.28 percent growth in weighted earnings per share and an 87.09 percent rise in net profit, according to data from TX Investment Consulting Co.

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