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BEIJING, April 7 (Xinhua) -- Chinese shares ended 4.45 percent higher on Monday with overall growth, as securities and metal stocks led the trend. The benchmark Shanghai Composite Index went above 3600 points in afternoon session and closed at 3,599.62, up 153.38 points. Most securities shares saw a major boom, which could be a mark of regained confidence in the overall stock market, dealers said. Citic Securities surged 9.52 percent to close at 56.85 yuan. Northeast Securities rose to the daily limit of ten percent to 25.36 yuan. Metal shares continued to boost the index, with Baosteel, China's largest iron and steel maker, surging 5.47 percent to 12.35 yuan and Chinalco, the nation's biggest aluminum maker, rising by the maximum 10 percent for the second day to hit 22.86 yuan. Bank shares which made major growth in previous trading, only registered modest gains. The Bank of China rose 1.75 percent to 5.24 yuan, and the Industrial and Commercial Bank of China was up 0.94 percent to 6.42 yuan. JPMorgan Fleming Asset Management Strategy Director on Global Emerging Market, George J. Iwanicki, said he was optimistic about the long-term future of emerging stock markets, including China. Influenced by the corrections of mature markets in western countries, their U.S. dollar-denominated stock index may experience a 25 to 30 percent decline, which could last about five months. Now that the market had gone down for five months, and the corrections in these markets were likely to end, he said. The Shenzhen Component Index on the Shenzhen Stock Exchange ended at 13,396.61 points, up 5.88 percent, continuing the rebound in the previous trading day. The two bourses registered 1,592 gains against 6 losses. The combined turnover reported 127.58 billion yuan, up from 95.47 billion yuan on Thursday.
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