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A-Shares Inch Upward, Real Estate Rallies
The Shanghai Composite Index rose 0.1% to close at 3,178.61, while the Shenzhen Composite Index increased 0.36% to close at 1,134.68 on November 10. Trading volume on the Shanghai and Shenzhen Stock Exchanges added up to RMB 162.98 billion and RMB 101.68 billion, respectively.
China's National Bureau of Statistics announced Tuesday that domestic real estate investment rose 18.9% year-on-year in the first ten months of 2009 to RMB 2.84 trillion. Shares of Vanfund Real Estate (000638.SZ) spiked 10.01%, Beijing Huaye Real Estate (600240.SH) rose 6.55% and Capital Development (600376.SH) increased 6.11%. Shanghai Industrial Development (600748.SH) climbed 4.92% and Guoxing Rongda Real Estate (000838.SZ) gained 4.47%.
Poly Real Estate (600048.SH) gained 2.86% on Tuesday, following its announcement of October sales earlier that day.
Power companies reversed gains from the previous day, with Qianjiang Water Resources Development (600283.SH) sinking 3.56%, Dalian Thermal Power (600719.SH) dropping 2.61% and Chifeng Fulong Thermal Power (000426.SZ) cooling 2.54%.
Foreign companies aiming to list on Shanghai's to-be-launched international board must first undergo a trial period; initially, only a small number of companies meeting very high requirements will be allowed to list, reports Chinanews.com.cn quoting Shanghai Stock Exchange Vice General Manager Liu Xiaodong on November 9.
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