SHANGHAI, Nov 28 (Reuters): China indexes rose for the seventh straight
session on Friday and produced their biggest monthly gains in nearly two
years, thanks to a surge after Beijing's surprise rate cut.
However, technical indicators show the main indexes being overbought, which could leave them vulnerable to profit-taking in the near-term.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 2.0 per cent to 2,808.82, the highest level since September 2011, while the Shanghai Composite Index gained 2.0 per cent to 2,682.83, the highest level since August 2011.
For the month, the CS1300 was up 12 per cent while the SSEC gained 10.9 per cent, the biggest monthly gain since December 2012.
Among the most active stocks in Shanghai on Friday were Agricultural Bank of China up 6.3 per cent to 2.86 yuan; China Everbright Bank, up 10.14 per cent to 3.80 yuan and China Minsheng Banking Corp, up 8.59 per cent to 7.33 yuan.
In Shenzhen, Ping An Bank gained 10.0 per cent to 12.44 yuan
However, technical indicators show the main indexes being overbought, which could leave them vulnerable to profit-taking in the near-term.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 2.0 per cent to 2,808.82, the highest level since September 2011, while the Shanghai Composite Index gained 2.0 per cent to 2,682.83, the highest level since August 2011.
For the month, the CS1300 was up 12 per cent while the SSEC gained 10.9 per cent, the biggest monthly gain since December 2012.
Among the most active stocks in Shanghai on Friday were Agricultural Bank of China up 6.3 per cent to 2.86 yuan; China Everbright Bank, up 10.14 per cent to 3.80 yuan and China Minsheng Banking Corp, up 8.59 per cent to 7.33 yuan.
In Shenzhen, Ping An Bank gained 10.0 per cent to 12.44 yuan
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