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BIZCHINA> Top Biz News
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Chinese shares up 2.14% on confidence booming
(Xinhua)
Updated: 2009-04-20 15:56 Chinese shares rose 2.14 percent Monday, after the country's Premier said the stimulus package plan has shown positive results on Saturday.
The benchmark Shanghai Composite Index rose 53.52 points or 2.14 percent to finished at 2,557.46 points. The Shenzhen Component Index added 2.23 percent, or 213.58 points, to close at 9,793.64. Gains outnumbered losses by 731 to 61 in Shanghai and 625 to 54 in Shenzhen. Combined turnover was 222 billion yuan ($32.5 billion), compared with the previous trading day's 241.24 billion yuan. Centrally-administrated State-owned enterprises gained, as these types of enterprises realized a 26 percent growth in profits in March year on year, according to figure from State-owned Assets Supervision and Administration Commission on Sunday. Sinopec, the leading oil refiner in Asia, rose 4.18 percent to 9.97 yuan; PetroChina, which accounted for one quarter of the market value, added 2.23 percent to close at 11.93 yuan. The country's air carriers also outperformed, as the companies are expected rising profits in the first quarter. Air China, the country's top carrier, gained 8.64 percent to 7.29 yuan, while China Southern Airlines rose 5.85 percent to 6.33 yuan. (For more biz stories, please visit Industries)
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