Mainland stock mixed, pharma shares up as U.S. declares H1N1 national emergency
Mainland China markets were mixed today, with pharmaceutical and vaccine shares making the biggest gains after U.S. President Barack Obama declared Swine Flu a national emergency. The Hong Kong market was closed for holiday.
The Shanghai Comprehensive Index added 0.1 percent to 3109.57. The Shenzhen Component Index dropped 0.2 percent, to close at 12,815.26. Taiwan's TAIEX Index gained 0.25 percent to 7668.40.
Auto shares advanced for another day, gaining 2.5 percent on average. Anhui Ankai Automobile Co. (SHE:000898) surged to the 10 percent trading cap. Chongqing Changan Automobile Co. (SHE:000625) climbed 7.8 percent. SAIC Motors (SHA:600104), China's largest auto maker, rose 3.2 percent.
Pharmaceutical shares gained 2.6 percent on average, led by vaccine shares, after U.S. President Barack Obama yesterday declared swine flu a national emergency. Vaccine shares climbed over 5 percent on average.
Zhejiang CONBA Pharmaceutical Co.(SHA: 600572), Shenzhen Neptunus Bioengineering Co. (SHE:000078), Hualan Biological Engineering Inc. (SHE:002007), Guilin Layn Natural Ingredients Corp. (SZ:002166) all surged to the 10 percent trading cap.
Beijing Tiantan Biological Products Co. (SHA:600161) climbed 9.8 percent. Da An Gene Co.,Ltd. (SHE:002030) added 9 percent. ZheJiang Apeloa Medical Technology Co. (SHE:000739) advanced 8.91 percent.
China National Medicines Corp. (SHA:600511), a drug maker, climbed 6.8 percent. The company said its third-quarter net income rose 39 percent to RMB 62.5 million in a filing to the Shanghai stock exchange yesterday.
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