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Chinese shares open almost flat
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13:29, December 09, 2008

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Chinese shares opened almost flat on Tuesday despite another big overnight rally on Wall Street.

The benchmark Shanghai Composite Index rose 0.5 percent, or 10 points, to 2,010.77 at the opening. The smaller Shenzhen index was up 0.49 percent, or 36.92 points, to open at 7,565.55.

Wall Street rallied overnight on U.S. President-elect Barack Obama's plan to launch the largest infrastructure-spending package since the 1950s which stimulated the equity market. The Dow Jones average rose 298.76, or 3.46 percent, to 8,934.18.

In previous trading day, Chinese shares surged 3.57 percent on prospects of more stimulus policies to buttress the economy from a three-day Central Economic Work Conference, which started on Monday.

Source: Xinhua

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