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China stocks edge up 0.14% after earlier-than-expected fuel price cuts
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17:03, December 19, 2008

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Chinese equities advanced by a modest 0.14 percent on the last trading day this week, as investorconfidence remained weak despite a slew of government moves to prevent a deepened slowdown of the economy.

Dealers said sell-offs of heavy-weighted shares shortly before the closing erased some earlier gains, which were led by airlinersfollowing the government's earlier-than-expected plan to cut domestic fuel prices late Thursday night.

The benchmark Shanghai Composite Index finished the day at 2,018.46 points, up 2.77 points, retreating a high of 2,038.66. The smaller Shenzhen Component Index added 26.36 points, or 0.36 percent, to 7,412.47.

The combined turnover in Shanghai and Shenzhen was expanded to 110.32 billion yuan (16 billion U.S. dollars), up from 99.49 billion yuan registered on the previous day.

Source:Xinhua



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