China A-shares end morning sharply higher led by banks, properties |
|
|
|
Published
:
Mon, 29 Oct 2007 04:51
|
BEIJING (XFN-ASIA) - China A-shares finished the morning session sharply higher, staging a strong rebound as financials and property developers posted strong gains.Dealers said there was renewed buying interest after the market's recent weakness, with investors encouraged by the fact that authorities did not announce any major economic tightening policies over the weekend.The benchmark Shanghai Composite Index ended the morning up 135.79 points or 2.43 pct at 5,725.42, following a 3.03 pct drop last week.Heavyweight banks such as Industrial and Commercial Bank of China (SHA 601398; HK 1398) led the charge, with property developers adding to the momentum due to a record high yuan.The Shanghai A-share Index was up 142.69 points at 6,010.76, while the Shenzhen A-share Index was up 11.5 points at 1,456.38.The FTSE/Xinhua China A 50 Index was up 554.10 points at 22,583.94, while the FTSE/Xinhua China A 200 Index was up 305.83 points at 15,979.92.(1 usd = 7.48 yuan)jianbo.wu@xfn.com-xfnjbw/xfnrcCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
|
|
|
|
Print this Story
Hong Kong shrs end morning higher led by properties; index hits new high -UPDATE 