To: Evan who wrote (3855 ) 6/8/1999 1:29:00 AM From: jmhollen Respond to of 7209
Gee, Evan..... I warned you about watching where you walk around here. The "..thread of the living dead.." kind of dribbles over here when they run out of ketchup packs and/or exhaust all their ignorant rumors over there.... Even the chief BOD-sampler from the environmental scientist directorate at the local treatment plant made an '..uhpeerunce..', I see. (yuk yuk yuk)From the "Jus' so's ya know Dept.": CHINA; Beijing policy moves bring cheer REUTERS Shanghai's B shares reversed morning losses to end higher yesterday, as sentiment was buoyed by solid gains in the Shenzhen market. The B-Share Index rose 1.375 points to settle at 41.004. Turnover was US$12.53 million, compared with Friday's $15.59 million. "Sentiment was largely upheld by the Shenzhen gains," a broker said. The two markets had rallied of late, although Shanghai's B shares had under-performed their southern counterparts, brokers said. Shanghai's B shares have climbed 6.01 per cent since June 2, while Shenzhen's soared about 20 per cent. Brokers said there was considerable confidence in long-term gains as investors saw the government gearing up to bolster the market. The recent bull run has helped raise hopes of a revival in the long-dormant primary market, with some companies considering initial public offerings. Huangshi Dongbei Electrical Appliances, a refrigerator-compressor maker, planned to offer 100 million B shares this month in Shanghai. Brokers said the share offer would be closely watched for signs pointing to a recovery. Shanghai Tyre & Rubber was the most active issue, with 8.41 million shares changing hands. It was also among the best performers. Shanghai's A shares closed firmer, with the A-Share Index advancing 43.4 points to 1,407.686. Turnover rose to 12.96 billion yuan from Friday's 11.22 billion yuan. Technology stocks led the gains. In Shenzhen, B shares soared on expectations that more market-bolstering measures were in store after last week's bullish policy moves by Beijing. The B-Share Index rose 5.54 points to end at 89.04. Turnover was steady at HK$172.83 million, compared with $177.54 million on Friday. "The market feels that there is still some good news that has not been announced," a broker said. B shares might slow down or even correct in the short term, another broker said, "but the overall upward trend has not changed". Bengang Steel was the most actively traded issue, which closed higher on 17.14 million shares crossing the board. Shenzhen A shares finished higher. The A-Share Index rose 11.83 points to 416.7. Turnover climbed to 11.51 billion yuan from 9.93 billion yuan. Brokers said the market was bolstered by mutual funds, which snapped up large-capitalisation blue chips.