China B-shares close higher despite reserve requirement hike |
|
|
|
Published
:
Tue, 31 Jul 2007 08:47
|
SHANGHAI (XFN-ASIA) - China B-shares closed higher, with investors viewing the bank reserve requirement hike as having only a minor impact on the market, dealers said.The central bank announced late yesterday a 50 basis point hike in the bank reserve requirement, citing a need to curb rapid credit growth and cool an overheating economy.The Shanghai B-share Index was up 6.68 points or 2.08 pct at 328.10 on turnover of 2.13 bln usd and the Shenzhen B-share Index up 6.15 points or 0.79 pct at 780.40 on turnover of 993.73 mln hkd.The FTSE/Xinhua China B35 Index was up 136.46 points at 11,278.12.The Shanghai Composite Index, which covers both A- and B-shares listed on the Shanghai Stock Exchange, closed up 30.26 points or 0.68 pct at a record 4,471.03.(1 usd = 7.56 yuan)lilian.wu@xfn.com-xfnlw/xfntmCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
|
|
|
|
Print this Story
China B-shares end morning firmer; little impact from bank reserve hike-UPDATE 