Stocks News
- Chinese stocks ended higher in Friday morning session
Date: 1-Jun-2007 Sources: (Xinhua Online)
Chinese share prices ended higher in Friday morning session, with the benchmark Shanghai Composite Index extending its recovery to 4,162.97 points, up 1.30 percent or 53.32 points.
The main Shanghai index opened at 4,120.63 points on Friday. Shares on the smaller Shenzhen Component Index closed at 13,057.09 points, 112.86 points higher.
Shares of space and military industries led the market in the morning. Blue chips such as Sinopec, Industrial and Commercial Bank of China maintained strong momentum.
The Special Treatment shares continued to drop drastically.
Wu Xiaoling, vice governor the People's Bank of China, has said the stock market grows too fast and expected smooth development.
Analysts with Beijing Shoufang Investment Consulting suggested investors to buy more blue chips.
Analyst Li Hongyan with Shandong Qilu Securities Brokerage Co., Ltd. said the market would see decline if the government comes up with more measures to cool the market.
On Wednesday the tripling of the stamp tax on trading prompted the sharpest dive in three months as investors fretted that the government could take further tough measures to dampen sentiment.
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