Shenzhen gains on a quiet day

PUBLISHED : Wednesday, 04 May, 1994, 12:00am
UPDATED : Wednesday, 04 May, 1994, 12:00am

SHENZHEN B shares managed modest gains yesterday although only 10 counters were traded.

''There is still not much interest in Shenzhen's B market,'' said a broker with Shenzhen's J&A Securities.

Bloomberg reported five stocks closing up, one down and four unchanged.

The Credit Lyonnais B-share index closed up 4.91 points, or .46 per cent, at 1,081.74, while the A-share index gained 88.67 points, or 7.66 per cent, to end on 1,246.67.

The day's most active stock was watchmaker Fiyta which rose 8.5 per cent to $4.45 on volume of 80,000 shares. The rise followed a 13.8 per cent surge last Thursday.

Real estate developer Gintian added 10 cents to $5.60, with 20,000 shares traded, and Shekou Port also gained 10 cents to close at $4.30 The only stock to fall on the day was China Southern Glass which closed down one cent at $11.49 on volume of just 6,000 shares.

Shenzhen remains the last choice of investors looking to put funds into China, in part because the listed stocks have little appeal when compared with the offerings of Shanghai and Hong Kong.