Shanghai Daily: Business - shanghaidaily.com
THE Shanghai index climbed higher today thanks to rising technology stocks and industrial shares. The Shanghai Composite Index, which tracks yuan-denominated A shares and hard-currency B shares, added 1.44 percent, or 75.54 points, to 5,308.89 at 3pm today. Winners in the Shanghai market outnumbered losers 503 to 239 and 104 were unchanged. The Shenzhen Composite Index, which covers the smaller mainland stock market, gained 1.42 percent, or 20.41 points, to 1,453.47. China United Telecommunications Corp, which controls the nation's second-largest cell-phone operator, led the rising technology stocks on speculation revenue will increase after the government approved a plan to build a new-generation broadband network for mobile phones. China United jumped 8.28 percent, or 0.94 yuan (13 US cents), to close at 12.29 yuan. China's government has supported the development of TD-SCDMA mobile phone technology to compete with W-CDMA and CDMA2000. It is poised to award licenses
Shanghai Daily: Business - shanghaidaily.com
A RALLY across the board pushed the Shanghai index higher in the early session today with technology stocks leading the way and industrial shares driven by profit reports. The Shanghai Composite Index, which tracks yuan-denominated A shares and hard-currency B shares, added one percent, or 52.53 points, to 5,285.88 at 11:30am today. Winners in the Shanghai market outnumbered losers 537 to 213 and 96 were unchanged. The Shenzhen Composite Index, which covers the smaller mainland stock market, gained 1.34 percent, or 19.26 points, to 1,452.32. China United, which controls the nation's second-largest cell-phone operator, jumped 8.11 percent, or 0.92 yuan (13 US cents), to 12.27 yuan. China's government has supported the development of TD-SCDMA mobile phone technology to compete with W-CDMA and CDMA2000. It is poised to award licenses for networks to offer so-called 3G phone services during the 2008 Olympic Games in Beijing. The technology represents "a major thrust in
Business - International Herald Tribune
The Chinese government said Wednesday that it had approved a plan for upgrading its mobile phone network for wireless broadband services.