Stocks News
- Chinese shares shake off jitters on June 5
Date: 6-Jun-2007 Sources: (Xinhua Online)
China's benchmark Shanghai Composite Index rose 2.63 percent on Tuesday, or 96.7 points to close at 3,767.10 points.
The Shenzhen Component Index climbed 4.79 percent, or 549.25 points, to close at 12,017.71 points.
Earlier in the day the stock exchange had dived 7.25 percent but shook off the jitters after lunch to make a U-turn. Turnover in Shanghai reached 179.21 billion yuan, up from 145.98 billion yuan on Monday.
Chinese shares plunged on Monday, with the major Shanghai Composite Index, which tracks both yuan-denominated A shares and hard-currency B shares, closing at 3,670.4 points, down 330.34 points or 8.26 percent, from the previous close last Friday.
The slump is the largest decline since Feb. 27 when the index dropped by 8.84 percent. About 800 stocks, or about one third of the total, dropped by the maximum 10 percent.
The smaller Shenzhen Component Index saw a 7.76 percent drop on Monday, closing at 11,468.46 points, down 964.23 points.
The two bourses reported total turnover of 275.03 billion yuan Tuesday, up from 225.89 billion yuan on Monday, but still much less than 346.58 billion yuan of last Friday.
On May 29, the Shanghai bourse reached its highest point so far this year at 4,335.18 points.
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