Markets

Sector Update: Financial

Financial stocks were matching the broader markets' gains, with the NYSE Financial Sector Index growing 0.9% and the S&P Financial 100 Index up about 1.0%.

In company news, China Finance Online Co. Ltd. ( JRJC ) enjoyed a big boost today, with American depository shares of the financial services company rising as much as 27% after it today launched Securities Master, China's first web-based trading platform.

The company developed the fully integrated trading platform through a strategic partnership with CITIC Securities, the country's largest brokerage firm, and will offer Securities Master through its jrj.com and stockstar.com financial portals.

The company's ADS recently were up more than 26% at $5.61 apiece, earlier advancing to a session high of $5.66 per ADS. The stock has traded within a 52-week range of $1.61 to $8.20 per ADS, more than tripling in value over the past 12 months, rising nearly 204%.

In other sector news,

(-) LAND, (-1.0%) Inks deal to acquire five irrigated farm properties - comprising a combined 3,522 acres - in Florida and California for about $45 mln. The company has can buy another 2,300 acres across three farms for about $39 mln.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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