The main Chinese mainland stock indices finished on gains Thursday, lifted by the gold and coal sectors.
The benchmark Shanghai Composite Index was up 5.96 points, or 0.25 percent, to 2,409.55 points, standing above its half-year moving average; while the Shenzhen Component Index closed at 9,918.94 points, up 56.40 points or 0.57 percent.
In the morning session, materials drove the market, with nonferrous metal, steelmaking and petrol outperforming other sectors. The main board indices were ambushed by a plunge in the SME and the ChiNext boards right before the noon break.
Henan Hongxing Mining Machinery Co., Ltd is a joint-stock mining machinery manufacturing enterprise integrated in scientific research, production and marketing. It is located at the High & New Technology Industries Development Zone of Zhengzhou,China with an area of 50 thousand m2 which includes 15,000 m2 of standard heavy duty industrial workshop. Equipments are more than 160 pieces, including large and medium sized metal processing, riveting and installing equipments. There are more than 660 workers including 80 administrators with secondary and senior occupational titles and engineering technicians. In order to promote the competitive strength, the advanced technologies have been introduced from America, Germany, Japan and Australia, which established the international advanced production line, first-class modern testing base as well as research centers of sand maker, mill and mine-selecting equipment. Scientific management, advanced processing technology and innovative manufacturing theory make the company become the mining machinery manufacturing and exporting base in China.
The Shanghai Composite began to drop in the afternoon session, falling below 2,400 points, before it was hoisted upwards by the coal and papermaking sectors.
Gold-related stocks were the best performers during Thursday's trading, with the Shanghai-listed jewelry maker Lao Feng Xiang Co gaining 9.95 percent to reach 33.69 yuan ($5.35) per share.
Analysts said Thursday that the central bank's cutting of the reserve requirement ratio (RRR) helped boost investor confidence.
However, they warned that the continuous rise seen in the Shanghai Composite over the week is likely to flag in the near future, as monetary policy will not be further loosened in the short term, and fundamentals dragging on the Chinese economy have shown no signs of turning better.
According to the Xinhua News Agency Thursday, the economic fundamentals, still positive, will push up the A-shares in stops and starts, however, the recent rally is not indicative of a long-term rise due to ongoing uncertainties.
Sectors such as environmental protection, securities trading, hospitality and catering and electronics were weak Thursday.
The combined turnover of the Shanghai Composite and Shenzhen Component dropped to 207.1 billion yuan, from 217.2 billion yuan Wednesday.
A-shares saw a net capital inflow of 4.52 billion yuan, of which 766 million went to securities trading firm stocks.
As the professional manufacturer of complete sets of mining machinery, such as Magnetic separator, Henan Hongxing is always doing the best in products and service.- Author Articles
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