Bloomberg, (29/8) -- China�s stocks swung between gains and losses. Brokerages and Shanghai-based companies advanced, while commodity producers and transport shares declined. Haitong Securities Co. led gains for brokerages after the government said it�s expanding a credit asset securitization trial. Shanghai International Port (Group) Co. rose 10 percent for a fifth day on speculation the start of a free-trade zone will bolster earnings. Jiangxi Copper Co. plunged 2.9 percent after UOB-Kay Hian Holdings Ltd. recommended selling the shares. China Eastern Airlines Corp. slid 4.1 percent after rallying 21 percent in the previous four days. The Shanghai Composite Index fell 0.1 percent to 2,098.30 as of 10:12 a.m., adding to this year�s loss of 7.5 percent. The CSI 300 Index lost 0.2 percent to 2,323.74. The Hang Seng China Enterprises Index climbed 0.7 percent. The Bloomberg China-US Equity Index added 0.5 percent in New York yesterday. The Shanghai Composite is valued at 8.4 times its projected 12-month earnings, compared with the five-year average of 12.7 times, according to data compiled by Bloomberg. Trading volumes in the index were 56 percent higher than the 30-day average today, according to data compiled by Bloomberg.
Posted on: Thu, 29 Aug 2013 02:56:18 +0000
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