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PR Newswire
27-12-2010, 01:06 PM
Business News
China shares higher in morning trade
SHANGHAI - Chinese shares rose 0.53 percent in early trade Monday as a weekend interest rate hike -- the second in less than three months -- lifted a weight off investors' minds, dealers said.
The Shanghai Composite Index, which covers both A and B shares, was up 15.14 points at 2,850.30.
The Shanghai A-share index added 0.53 percent, or 15.86 points, to 2,984.74, while the Shenzhen A-share index rose 0.54 percent, or 7.34 points, at 1,359.40.
China's central bank on Saturday raised the one-year lending and deposit rates by 25 basis points each as authorities ramp up efforts to curb borrowing, rein in property prices and tame inflation.
"Now that the interest rate hike is finally out, investors can breathe a sigh of relief as the government is expected to refrain from raising interest rates again in the short term," Shanghai Securities analyst Qian Weihai told Dow Jones Newswires.
- AFP/ir
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different sentiment
China shares higher in morning trade
SHANGHAI - Chinese shares rose 0.53 percent in early trade Monday as a weekend interest rate hike -- the second in less than three months -- lifted a weight off investors' minds, dealers said.
The Shanghai Composite Index, which covers both A and B shares, was up 15.14 points at 2,850.30.
The Shanghai A-share index added 0.53 percent, or 15.86 points, to 2,984.74, while the Shenzhen A-share index rose 0.54 percent, or 7.34 points, at 1,359.40.
China's central bank on Saturday raised the one-year lending and deposit rates by 25 basis points each as authorities ramp up efforts to curb borrowing, rein in property prices and tame inflation.
"Now that the interest rate hike is finally out, investors can breathe a sigh of relief as the government is expected to refrain from raising interest rates again in the short term," Shanghai Securities analyst Qian Weihai told Dow Jones Newswires.
- AFP/ir
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different sentiment