A Stock Express: A Red Friday
A Stock Express: A Red Friday
It's different from the US's market, red means the index is up, and green is down.
More or less, red is a lucky color for the Chinese culture.
So was the Friday's market.
The Shanghai Composite Index reached 4761 when the market closed; the max points were 4806, and the min points were 4657. 50 percent of stocks rose and 50 percent were down. 26 stocks rose more than 10 percent. Only 4 stocks lose 10 percent.
Heavy-weight stocks rose a little bit higher than the previous trading day. Several financial and real estate stocks posted significant gains.
Taipingyang rose 10 percent to Y38.62.
Xingye Bank rose 5.79 percent to Y48.96.
Zhaoshang Real Estate rose 8.74 percent to Y58.5.
Wanke A rose 6.59 percent to 27.00.
Today is the first day for the changing of the required reserves ratio. The new ratio is 14.5 percent; this is the highest ratio since 1949. The former record is 13 percent in 1988.
Do you think there will be lots of new records in 2008 in China?
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