Equityworld Futures – Started trading of Chinese stocks on Tuesday (27/12), the Shanghai index opened higher, when it was observed edged up 0.75 points or 0.02 percent at 3123.32. Strengthening the Shanghai index supported the increased profits of Chinese industrial enterprises.

Profits at industrial companies in China accelerated last month because the price of products such as coal and metals continue to rise.

Industry profits rose 14.5 percent in November from a year earlier to 774.6 billion yuan ($ 111 billion), the National Bureau of Statistics said on Tuesday (27/12). That compared with a 9.8 percent rise in October. Earnings in the first 11 months rose 9.4 percent to 6.03 trillion yuan.

 

Equityworld Futures | he Shanghai Stock Index Up Due to Rising Open Company Chinese

Analyst Vibiz Research Center estimates that in the next trade Shanghai index will move positively with increased profits of Chinese industrial enterprises. The index will move in the range 3052-2970 Support through the level and if price rose will try to penetrate the resistance level at 3222-3312.

Profits at industrial companies in China accelerated last month because the price of products such as coal and metals continue to rise.

Industry profits rose 14.5 percent in November from a year earlier to 774.6 billion yuan ($ 111 billion), the National Bureau of Statistics said on Tuesday (27/12). That compared with a 9.8 percent rise in October. Earnings in the first 11 months rose 9.4 percent to 6.03 trillion yuan.

Strong profits come as factory inflation rebounded to 3.3 percent in November, the fastest pace in five years, the surge in the price of coal and metals. Which will help manufacturers to pay off debt and to invest more, while delaying efforts to reduce excess capacity.

“The real interest rate is lower and earnings growth strong industry that provides a strong incentive to borrow,” said Song Yu, chief economist of China based in Beijing, Beijing Gao Hua Securities Co., a joint-venture partner of Goldman Sachs Group Inc, wrote in a recent note.

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