Coal sector drives indices up to new high
Updated: 2007-09-03 16:26
After a month-long correction, China State Shipbuilding Co Ltd, the most expensive stock in the domestic securities market, sailed back to the 200-yuan field due to rosy industry predictions. The stock closed at 205.59 yuan, its maximum rise for one day.
In addition, shares in the steel making and public utility sectors contributed generously to today's success. Shares of the Xinjiang based Bayi Iron & Steel increased by 10 percent to close at 14.42 yuan, while Changchun Gas Co Ltd, a municipal gas supplier in Jilin Province, also impressed investors with a seven percent growth.
To prevent excessive speculations in the volatile market, the Shenzhen Stock Exchange recently established a risk management committee and issued guidelines for managing transactions calling on entrusted dealers to refuse or suspend liabilities to clients who use securities accounts illegally or pursue illegal transactions. Dealers are also responsible for educating investors, and warning them about various investment risks, according to the bourse.
Now it's up to Chinese stock investors to decide whether to share the growth or to risk their positions in sheer stock speculations. At the historic height of the market, a sober mind and more cautiousness seem to be indispensable to all.
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