TV firm's rise boosts market
( 2003-08-12 09:40) (eastday.com.cn)
Share prices in Shanghai closed slightly higher yes-terday on the back of an
im-pressive rise in a television maker whose prospects were enhanced by its
digital TV production capability.
The Shanghai Composite Index, which tracks both yuan-denominated Class A
shares and hard-currency Class B shares, edged up 0.21 percent to end at
1474.41.
The value of transactions dropped to 3.64 billion yuan (US$438.55 million),
from 5.59 billion yuan on Friday.
The A-share Index closed at 1544.47, an increase of 0.24 percent.
"The slight increase in the index was attributed to the rise in the share
price of Sichuan Changhong Electric Co Ltd whose digital TV production has
bright prospects," said Wu Kan, head of the investment consulting department of
Shanghai Securities Con-sulting Co Ltd. "It (digital TV production) is a new
cash cow for the company."
Changhong, the nation's leading television maker, rose 2.88 percent to finish
at 7.50 yuan.
Two other TV makers also rose - Chengdu Qianfeng Electronics Co Ltd closed
2.12 percent higher at 8.18 yuan while Qingdao-based Hisense Electric Co Ltd
finished at 8.35 yuan, an increase of 2.83 percent.
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