Pakistanis angry over detentions in Times Sq. case Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They
AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
Minister seeks closure of anti-Berlusconi websites Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
Navigation
Primary Navigation
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular
Secondary Navigation
Singapore
Asia Pacific
World
Search
Search:
China shares extend gains on stimulus plan
AP - Saturday, November 15
SHANGHAI, China - Chinese shares advanced Friday on expectations of an economic boost from a government stimulus package, ending the week up nearly 14 percent.
The benchmark Shanghai Composite Index rose 3.1 percent, or 58.82 points, to close at 1986.44. The index has risen 13.7 percent, or 239 points, for the week _ the third biggest weekly gain in 12 years.
The Shenzhen Composite Index for China's smaller second market rose 4.4 percent to 545.34.
The government said Friday that its $586 billion stimulus package, meant to shield China from the global slowdown, would include tax cuts totaling 300 billion yuan ($44 billion). The authorities have also said they will ease lending and investment curbs and plan to add 100 billion yuan ($15 billion) to government spending through the end of the year.
"Investors were uncertain about the economy before, but the new government policies are apparently changing attitudes of those pessimists," said Huaxi Securities analyst Mao Sheng.
But Mao said it will not be clear whether those policies have changed the country's economic outlook until companies report earnings for the first or second quarters of 2009.
Consumer and agricultural related stocks, especially food and beverages, surged on government promises of more spending. Guizhou Maotai Wine Ltd. soared by the daily limit of 10 percent to 98.59 yuan, and Inner Mongolia Yili Industrial Group, a major dairy company, shot up 8.4 percent to 8.14 yuan.
Shandong Denghai Seeds Ltd. also rose 10 percent to 14.04 yuan. Beijing Shunxin Agriculture Ltd. gained 6.9 percent to 11.4 yuan and Gansu Dunhuang Seed Ltd. climbed 9.1 percent to 8.14 yuan.
Real estate shares rallied after Chinese securities newspapers reported on possible interest rates cut. China Vanke Ltd., the country's biggest developer, gained 4.1 percent to 6.92 yuan, and rival Poly Real Estate Group also rose 4.1 percent, to 16.02 yuan.
Haitong Securities Ltd. surged by the daily limit of 10 percent to 14.78 yuan. Citic Securities Ltd., China's biggest listed brokerage, jumped 4.9 percent to 21.05 yuan.
On the currency market, China's yuan weakened to 6.8301 to the U.S. dollar, down from Thursday's close of 6.8291.
Email Story
IM Story
Printable View
Blog This
Recommend this article
Average (0 votes)
Sign in to recommend this article »
Most Recommended Stories »
Related Articles: China's Economy
Natixis sees opportunity in China renewables sectorReuters - 1 hour 19 minutes ago
HK enters recession for first time in 5 yearsAP - 1 hour 38 minutes ago
China says it might work with IMF on global crisisAP - Saturday, November 15
China Shenhua says 2008 total export quota at 24 mln tonnesReuters - Saturday, November 15
Related Articles: Business
Reports: RBS to cut 3,000 jobs globallyAP - 1 hour 6 minutes ago
Boeing engineers seek strike authorization voteAP - 1 hour 6 minutes ago
Natixis sees opportunity in China renewables sectorReuters - 1 hour 19 minutes ago
Thailand's Italian Thai turns to big net loss in Q3Reuters - 1 hour 23 minutes ago
India cbank loans to govt 52.6 bln rupees wk to Nov 7Reuters - 1 hour 23 minutes ago
Related Full Coverage
China Economy
china economy
All Full Coverage
Most Popular – Business
Viewed
Ancient 4,300-year-old pyramid discovered in Egypt
Britney Spears's son hospitalized: statement
Earth would be heading to a freeze without CO2 emissions
China mulls crackdown on lip-synching
Bin Laden is isolated, focused on his own security: CIA
View Complete List »
Search:
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular