RSSNewsletterSiteMapFeedback

Home · Weather · Forum · Learning Chinese · Jobs · Shopping
Search This Site
China | International | Business | Government | Environment | Olympics/Sports | Travel/Living in China | Culture/Entertainment | Books & Magazines | Health
Home / Business / Finance Tools: Save | Print | E-mail | Most Read | Comment
Shares rise 4.94 percent, ending 4-day decline
Adjust font size:

Chinese shares rebounded strongly Wednesday, ending four straight trading sessions of decline.

 

The benchmark Shanghai Composite Index, which covers both A and B shares, soared 254.57 points, or 4.94 percent, to 5,412.69.

 

The key index was still 11 percent lower from its record closing of 6,092.06 on October 16. Despite the recent correction, it has surged 102 percent so far this year.

 

The Shenzhen Component Index on the smaller Shenzhen Stock Exchange rose 607.66 points, or 3.63 percent, to 17,355.55.

 

The Hushen 300 Index, accounting for 60 percent of the nation's two stock markets value, gained 206.64 points, or 4.18 percent, to 5,145.89.

 

Investor confidence got a boost from Wall Street overnight and a rebound in Hong Kong. It was also aided by media reports that new mutual funds may be approved for subscriptions, said Wan Bing, a Guangfa Securities analyst.

 

The Dow Jones Industrial Average rose 319.54 points or 2.46 percent to 13,307.09 overnight. Hong Kong's benchmark Hang Seng Index rose 1,362.66 points, or 4.9 percent, to close at 29,166.01 on Wednesday.

 

Combined turnover at the two bourses expanded by a small margin to 130 billion yuan (US$17.5 billion) from 126 billion yuan on Tuesday.

 

Analysts said this showed that investors were still cautious on worries that the government may introduce further interest rate hikes and other tightening measures over the weekend to curb strong inflation and a surging economy.

 

China's consumer price index rose to 6.5 percent in October, up from 6.2 percent in September and matching the 11-year monthly record in August, the National Bureau of Statistics said on Tuesday.

 

Finance, steel and energy stocks led the advance on Wednesday. China Life rose 8.21 percent to 64.97 yuan, while the Industrial and Commercial Bank of China increased 4.38 percent to 8.35 yuan.

 

Baoshan Iron and Steel added 4.01 percent to 16.07 yuan and China Shenhua Energy soared 9.94 percent to 70.34 yuan.

 

PetroChina climbed five percent to 38.88 yuan and China Petroleum and Chemical Corporation, better known as Sinopec, jumped 3.87 percent to 23.90 yuan.

 

The A-share Index on the Shanghai Stock Exchange rose 267.42 points, or 4.94 percent, to 5,682.55, and the B-share Index climbed 14.73 points, or 4.46 percent, to 344.76.

 

(Xinhua News Agency November 15, 2007)

Tools: Save | Print | E-mail | Most Read

Comment
Username   Password   Anonymous
 
China Archives
Related >>
- Stocks rise for 1st time in 5 days in morning trading
- Shares down 0.57% on strong inflation data
- Shares rebound by 1.88% Tuesday morning
- Shares down 2.4% on fresh tightening measure
Most Viewed >>
-China set to hit the brakes on rising yuan
-Power to resume shortly in worst-hit area by snow
-Macao's gaming market expands further
-Online operators are on top of the game
-Insurance firms set to stump up billions

May 15-17, Shanghai Women's Forum Asia
Dec. 12-13 Beijing China-US Strategic Economic Dialogue
Nov. 27-28 Beijing China-EU Summit

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
SiteMap | About Us | RSS | Newsletter | Feedback

Copyright © China.org.cn. All Rights Reserved E-mail: webmaster@china.org.cn Tel: 86-10-88828000 京ICP证 040089号