|
BIZCHINA> Top Biz News
![]() |
|
Related
Shares rise 3% on more stimulus hopes
(Xinhua)
Updated: 2009-03-17 15:51 Chinese equities rose 3.02 percent on Tuesday as investors expect more economic stimulus measures from the government. The benchmark Shanghai Composite Index added 3.02 percent, or 65.04 points, to 2,218.33. The Shenzhen Component Index rose 4.58 percent, or 367.18 points, to 8,389.87. Gains outnumbered losses by 834 to 2 in Shanghai and 701 to 6 in Shenzhen. Combined turnover was 170 billion yuan ($24.89 billion), representing a big surge from 93 billion yuan on the previous trading day. Market confidence was spurred by media reports that the central government was planning more stimulus measures covering employment and incomes, international trade, interest and exchange rates as well as industrial production, in addition to the 4 trillion yuan package issued in November. "There is still room for further stimulus plans," said Lu Zhengwei, chief economist with Industrial Bank, citing Premier Wen Jiabao's words during the Second Session of the 11th National People's Congress that the government was prepared for bigger challenges. Chinese shares were also lifted by more than 3 percent gains in neighbouring markets. Japan's Nikkei 225 Stock Index climbed 3.18 percent, while Korean equities rose 3.41 percent. Australian shares were up 3.1 percent. Real estate shares rose across the board on market expectations the People's Bank of China, the central bank, was to lower the deposit reserve ratio for the fourth time since the second half last year. More than 10 property stocks rose by the 10 percent daily limit. Shanghai-based Winsan Industrial Corporation Ltd. added 10.13 percent to hit 4.13 yuan. Shenzhen Zhenye Group stock was up 10.05 percent. The steel sector also saw rises, encouraged by the China Securities Regulatory Commission's approval for futures transactions of two types of steel products on Shanghai Stock Exchange. Financial shares, including those of banks and brokers, continued to climb for the second day. Northeast Securities rose 8.05 percent to 21.62 yuan, while Changjiang Securities was up 5.33 percent to 13.04 yuan. Shares of the Bank of Nanjing closed at 12.67 yuan, up 4.8 percent. (For more biz stories, please visit Industries)
|
灌云县| 武定县| 潢川县| 新巴尔虎右旗| 策勒县| 望城县| 本溪市| 都江堰市| 武夷山市| 囊谦县| 永新县| 米脂县| 启东市| 廉江市| 大港区| 青州市| 九龙县| 连山| 柳河县| 南部县| 东城区| 宜兴市| 临高县| 天水市| 辽阳县| 临朐县| 公安县| 勐海县| 西乡县| 巨鹿县| 常熟市| 桐庐县| 蓬莱市| 新野县| 武冈市| 南川市| 嵩明县| 从江县| 万山特区| 镇康县| 汶川县|