Stocks News
- Stocks mixed as turnover jumps to record
Date: 25-Apr-2007 Sources: (Shenzhen Daily)
CHINESE stocks were mixed in nervous trade yesterday as funds flooded into steel shares and turnover jumped to an all-time high.
Turnover in Shanghai A shares expanded to a record 202.7 billion yuan (US$26.2 billion) from Monday's 182.1 billion yuan, exceeding the previous all-time high turnover of 186.7 billion hit last Thursday. The Shanghai Securities News reported yesterday that red chips, which are Hong Kong-listed Chinese companies, were expected to start listing on domestic Chinese stock markets in the second half of this year. This will mean more big cash calls, but liquidity is so ample that the market is confident of absorbing the offers, and believes they could actually have a positive impact on prices by attracting more investors.
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