男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

Economy

Markets

Industries

Insights

Reports

Events

Equities edge up led by drugmakers

(China Daily/Agencies)
Updated: 2009-09-08 08:32

Chinese stocks rose for a fifth day, led by financial and healthcare companies, after the government raised the amount foreign funds can invest in equities and boosted orders for swine-flu vaccines.

China Everbright Securities Co added 1.8 percent and China CITIC Bank Corp gained 4.2 percent. Hualan Biological Engineering Inc jumped the daily 10 percent limit after the Ministry of Industry and Information Technology ordered shots that immunize against the H1N1 virus.

The Shanghai Composite Index rose by 19.51 points, or 0.7 percent, to 2,881.12 at the close, capping a five-day, 8 percent gain. It is still down 17 percent from its Aug 4 peak on concern banks will be forced to rein in lending, derailing an economic recovery.

"Investors see the move as the start of government steps to boost the market," said Xu Lirong, fund manager at Franklin Templeton Sealand Fund Management Co. Further support measures may include delaying approval for new share sales, Xu said.

Related readings:  Chinese shares rise on moderately loose monetary policy promise  Chinese shares rise led by metal and electricity producers  Drugmakers set to deliver sweet pill

The limit on individual quotas will rise from $800 million to $1 billion and the lockup period for some investors will be cut to three months from one year, the State Administration of Foreign Exchange said on Friday.

"The move will temporarily ease concern about liquidity and the regulators will probably accelerate approvals of new quotas for foreign investors," said Zhang Qi, an analyst at Haitong Securities Co.

The China Banking Regulatory Commission will take "effective" steps to prevent bank loans from being diverted to stocks and property, Wang Huaqing, the regulator's discipline chief, was quoted as saying yesterday.

China last week approved swine flu vaccines produced by Hualan Biological and Sinovac Biotech Ltd and may approve the products of eight other companies by mid-September, the State Food and Drug Administration said.

"The shares are rising on expectations the government will accelerate the approvals for vaccine production and increase orders, which will help the companies' earnings," said Lou Shengrui, an analyst at Shenyin Wanguo Research and Consulting Co.

Hang Seng steady

Hong Kong stocks rose for a third day on speculation property-market investment in China will accelerate and after a newspaper reported HSBC Holdings Plc made a bid for ING Groep NV's private-banking businesses.

Agile Property Holdings Ltd, which owns real estate in Guangdong province, soared 4.6 percent as Fan Gang, an advisor to China's central bank, said property investment could rise 30 percent next year. HSBC, the most heavily weighted stock in the benchmark Hang Seng Index, advanced 1.3 percent.

The Hang Seng Index advanced 1.5 percent to close at 20,629.31.