Major stocks did well today, with a full fifteen finishing the day up. Energy, infrastructure and banking led the way (as it usually does in China, where state monopolies control most of these essential sectors); however, SAIC Motor outperformed them all, closing up 2.64%. Sinopec finished up 1.69%. I would not expect the Qingdao disaster to lead to major fines or investigations – not for a state-controlled company which is crucial to China’s energy strategy. A few token heads will roll, but that’s all. (It is probably more than you would get for a mining disaster, but hey, Qingdao is not Inner Mongolia). China Shenhua closed up 1.55% – coal will continue to be crucial for China’s energy supply.
China Mobile was the only major stock to fall, closing down 0.48%.
The Shanghai Composite Index finished up 18.30 points, or 0.83%, to stand at 2,219.37.
||52wk high||52wk low||EPS||P/E|
|China Construction Bank||4.4||+0.01 (0.23%)||1.10B||5.19||3.9||CN¥0.85||5.2|
|Agricultural Bank||2.61||+0.02 (0.77%)||847,712.61M||3.28||2.38||CN¥0.50||5.2|
|Bank of China||2.81||0.00 (0.00%)||784,407.22M||3.26||2.48||CN¥0.53||5.29|
|China Mobile||82.55*||-0.40 (-0.48%)||1.66B||91.8||74.9||HK$8.14||10.14|
|Noble Group||1.11||0.00 (0.00%)||7,356.06M||1.27||0.785||SGD0.04||31.05|
|China State Construction||3.28||+0.03 (0.92%)||98,400.00M||4.18||2.9||CN¥0.62||5.33|
|China Railway Construction||5.4||+0.05 (0.93%)||66,622.73M||6.49||3.95||CN¥0.84||6.41|
|China Railway Group||3.01||0.00 (0.00%)||64,112.70M||3.41||2.3||CN¥0.44||6.87|
|SAIC Motor||15.55||+0.40 (2.64%)||171,447.56M||19||11.83||CN¥2.05||7.58|
|China Life Insurance||15.83||+0.06 (0.38%)||447,430.28M||22.7||12.88||CN¥0.97||16.38|
|Dongfeng Motor||12.24*||+0.02 (0.16%)||105,461.31M||13.26||9.48||HK$1.37||8.95|
|China Shenhua||17.06||+0.26 (1.55%)||339,316.91M||25.7||15.51||CN¥2.25||7.58|
|Ping An Insurance||41.5||+0.06 (0.14%)||328,519.90M||53.27||31.69||CN¥3.45||12.03|
|China Telecom||4.11*||0.00 (0.00%)||332,632.04M||4.46||3.48||HK$0.26||16.01|
|China Communications Construction||4.27||+0.04 (0.95%)||69,066.12M||5.79||3.8||CN¥0.81||5.28|
|Bank of Communications||4.15||+0.03 (0.73%)||308,190.32M||5.68||3.68||CN¥0.84||4.93|