Home Business The Shanghai Composite Index regained its 3,600-point mark, and coal stocks led gains this week | Reuters

The Shanghai Composite Index regained its 3,600-point mark, and coal stocks led gains this week | Reuters

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Reuters, Shanghai, December 3-The Shanghai Composite Index of China‘s stock market closed up on Friday. Coal stocks led the gains this week, but the performance of travel stocks was dragged down by new mutant strains and the counterattack of the epidemic.

Shanghai Composite Index.SSECIt closed up 0.9% to 3,607.43 points, up 1.2% this week.CSI 300 Index.CSI300It closed up 0.9% and rose 0.8% this week. The Shenzhen Growth Enterprise Market Index closed up 0.3%, after rising 0.3% this week. The 50 component index of the Shanghai Science and Technology Innovation Board closed up 1.1% and fell 1% this week.

Pang Ming, chief economist and chief strategy analyst of China Renaissance Securities (Hong Kong), said that first of all, the positive news has caused a number of related sectors to rise, driving the index to rise. Secondly, the new mutant strain will definitely bring some uncertainties in terms of macro recovery, corporate profitability, and valuation levels. However, everyone has not yet obtained too many details so far, so the market continues to follow the original trend and shape. Oscillation within a narrow range.

The coal sector was among the top gainers this week. The China Securities Shenwan Coal Index closed up 4.5% after rising 8.7% this week.Jinkong Coal601001.SSJizhong Energy000937.SZDaily limit.

According to official media reports, the National Development and Reform Commission solicits opinions on the signing of the Long-term Coal Association in 2022, and the benchmark price of the Long-term Coal Association may be raised by about 31% to 700 yuan/ton.

China’s official media CCTV reported here that in terms of prices, the pricing mechanism of “base price + floating price” for coal remains unchanged, but opinions suggest that the new year’s thermal coal long-term association will be adjusted monthly. The adjustment range of 5,500 kcal thermal coal is between 550 and 850 yuan, of which the benchmark price of sewage coal long-term association is 700 yuan/ton, which is about 31% higher than the previous 535 yuan.

Previously, the Price Department of the National Development and Reform Commission of China conducted investigations on the establishment of a coal production and circulation cost investigation system, held a symposium on the establishment and improvement of the coal production and circulation cost investigation system, listened to the opinions and suggestions of the association and related enterprises, and provided for the further improvement of the coal market price formation mechanism. support.

Travel stocks led the decline this week. The China Securities Tourism Theme Index closed up 1.7%, but fell 2.2% this week.

The National Health Commission of China announced on Friday that on December 2, 96 new cases of new coronary pneumonia were confirmed in mainland China, of which 80 were localized in six provinces.

GlaxoSmithKlineGSK.LSaid on Thursday that with the US partner Vir COMINGLaboratory analysis of the antibody-based new crown therapy under development shows that the drug is effective against the new Omicron variant.

The former drugmaker Moderna (Moderna)MRNA.OChief Executive Officer (CEO) Stéphane Bancel said that the effect of the new crown vaccine on the Omicron variant strain is unlikely to be as effective as on the Delta variant. (over)

Press Xu Kaiwen; Reviewer Lin Gaoli

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