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Shares edge up on economic optimism

China Daily | Updated: 2009-09-09 08:11

Shares edge up on economic optimism

Chinese stocks rose for a sixth day on speculation that data this week will show the nation's economic recovery is strengthening, and the government will take extra steps to support equities.

The Shanghai Composite Index added 49.36 points, or 1.7 percent, to 2,930.48 at the close, capping a six-day, 9.9 percent advance. That's the longest winning streak in four months. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, rose 2.2 percent to 3,170.97.

"There's speculation the data will show the recovery is well under way," said Fu Hao, a Guangzhou-based fund manager at E Fund Management Co. "Trading may be volatile ahead of the release."

Shares edge up on economic optimism

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