Red chips, H shares give sparkling show

PUBLISHED : Saturday, 19 February, 1994, 12:00am
UPDATED : Saturday, 19 February, 1994, 12:00am

RED chips and H shares were yesterday's star performers, dominating the top-10 performers list.

China Everbright International closed as the day's biggest percentage gainer, sprinting 13.76 per cent or 26 cents to $2.15 on turnover of $37.21 million generated by 18.33 million shares traded, the 10th highest volume.

It fared well on the heels of an announcement of a planned $561.6 million rights issue to fund a pharmaceutical joint venture.

Three H shares were among the day's top-10 performers.

Kunming Machine, the day's fifth-best performer, leapt 10.13 per cent or 40 cents to $4.35 as 690,000 shares worth of $2.86 million changed hands.

Beiren Printing jumped 8.9 per cent or 42.5 cents to $5.20 on volume of 2.4 million shares producing a turnover of $12.3 million.

Guangzhou Shipyard put on 7.83 per cent or 32.5 cents to $4.475 as the 10th-biggest gainer while the 2.36 million shares traded represented a value of $10.28 million.

Shanghai Petrochemical saw heavy trading as it moved up.

It advanced 6.36 per cent or 17.5 cents to $2.925 on turnover of $77.5 million, posting the day's fifth-highest volume of 27.03 million shares.

World Trade Centre Group was also active, featuring on both the lists of top turnover and volume.

It advanced 5.95 per cent or 12.5 cents to $2.225 on the day's second-highest volume of 55.36 million shares churning out the sixth-highest turnover, of $112.25 million.

Pam & Frank went up 8.7 per cent or 14 cents as the eighth-biggest gainer to $1.75.

It recorded 4.43 million shares for a turnover of $7.43 million.

Yesterday, the All Ordinaries Index rose 0.36 per cent or 19.75 points to 5,552.19, compared with the 0.36 per cent gain in the Hang Seng Index, showing that index constituent stocks and second to third-liners performed on par.

The 10 heaviest-traded blue chips in monetary terms generated a combined turnover of $1.61 billion, accounting for 35.89 per cent of the total market turnover of $4.49 billion, compared with Thursday's 44.78 per cent.

Index constituent stocks together generated a trading volume of 74.86 million shares, representing 6.55 per cent of the total market volume of 1.14 billion shares, compared with 8.84 per cent on Thursday.

Index constituent stocks contributed less to total market activity yesterday than on Wednesday.

Tse Sui Luen Jewellery (International) on Thursday bought back 230,000 ordinary shares at prices ranging between $2.875 and $2.925 per share.

It bought back 270,000 ordinary shares on Wednesday, after buying back 210,000 shares on Tuesday, 60,000 shares on Monday, and 230,000 shares last Wednesday.

C.P. Pokphand Co on Thursday repurchased 2.7 million ordinary shares at prices per share ranging between $2.725 and $2.75.

Rockapetta Holdings starts trading on Monday.

Walsin International Holdings was suspended yesterday pending an announcement.