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BIZCHINA / News |
Chinese shares rise 1.37% on Wall Street rally(Xinhua)
Updated: 2008-02-14 17:04 Chinese shares rose 1.37 percent on Thursday following on the heels of an overnight rally of the US stock market and increased liquidity. The benchmark Shanghai Composite Index gained 61.60 points to 4,552.32. The Shenzhen Component Index ended up 202.49 points, or 1.23 percent, to 16,704.94. Winners outpaced losers by 735 to 59 in Shanghai and by 580 to 35 in Shenzhen. Turnover volume slightly fell to 84.6 billion yuan ($11.4 billion). The euphoria came as a fallout from a 1.5 percent climb of the Dow Jones Industrial Average on Wednesday after the US reported an unexpected increase of 0.3 percent in retail sales last month, easing concerns about a possible American economic recession. Major Asian markets finished up, with Tokyo share prices soaring 4.27 percent, South Korean stocks rising four percent and Taiwan up 4.16 percent. On Thursday morning, shares jumped more than three percent in Hong Kong and 2.8 percent in Singapore. Stronger liquidity contributed to the lift of Chinese shares, with four new funds to be released within eight trading days from Thursday. |
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