mineral exploration project – commodity prices – mining stock- trade and market

Stock trading in China stock market has increased. Mining companies and companies engaged in energy sector shares led the sales increase in China. Stock market analysts expect the stock price rise of China can survive and continue to increase. In the coming session of observers expect the Shanghai Composite Index may reach a number between 2800 and 3000.

The benchmark Shanghai Composite Index, which tracks both A and B shares, ended 1.4% at 2936.19, near the session high 2937.82.

Shenzhen Composite Index rose 1.5% to 1013.28.

But the turnover in the benchmark index fell to CNY90.41 billion ($ 13.25 billion) from Monday CNY102.0 billion, due to concerns that killed the newly launched initial public offerings will damp demand.

“Demand for electricity will likely rise in the coming (winter) months, driving coal and power generation shares higher,” said Qian Qimin, an analyst at Shenyin Wanguo Securities.

China Petroleum & Chemical rose 1.2% to CNY11.74 and Zhengzhou Coal Industry & Electric Power surged by the 10% daily limit to CNY11.61.

Hopes increased that third-quarter earnings reports due out later this month will be better than expected following statements by food producer VV Food & Beverage and China Vanke, the country’s largest property developer by market value.

VV Food & Beverage rose 6.3% to CNY7.95 after it said it expects its net profit for the January-September period to nearly triple from the same period of 2008, when it reported a net profit of CNY65.7 million.

China Vanke said its September revenue from property sales rose 27% from a year earlier to CNY5.46 billion, bigger than August’s 18.3% increase to CNY4.82 billion.

Property companies were broadly higher on hopes for increasing property sales after China Vanke’s statement. The firm rose 1.4% to CNY11.0 and Gemdale was up 1.9% at CNY13.87.

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