Chinese shares rise 3.57% on major economic conference
8/12/2008 16:11
Share prices on Chinese capital markets gained 3.57 percent today, on
prospects of more stimulus policies to buttress the economy from a three-day
Central Economic Work Conference kicking off in Beijing today.
This trend
also echoed the rally of Wall Street on the previous trading day and significant
gains of regional markets today, dealers said.
The benchmark Shanghai
Composite Index advanced 3.57 percent, or 72.11 points, to 2,090.77. The smaller
Shenzhen index climbed 3.43 percent, or 249.48 points, to 7,528.63.
Gains
outnumbered losses by 867 to 1 in Shanghai, and by 739 to6 in Shenzhen, with 97
unchanged on the two bourses.
The conference, an annual event initiated more
than a decade ago, serves as a crucial mechanism for the Communist Party of
China (CPC) Central Committee and the State Council, the cabinet, to make
policies to govern the world's fourth largest economy.
Xinhua
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