Shares hit high on banks, healthcare

11:07, August 17, 2010      

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China's key stock index ended up 2.1 percent Monday, its highest close in a week, with strong volume and demand in selected sectors such as healthcare and banks, helping to underpin gains from the last session.

The Shanghai Composite Index ended at 2,661.7 points, after closing up 1.2 percent Friday. Analysts said ample liquidity in the share market was helping to offset concerns over moderating growth after last week's slew of economic data.

Banking shares were led by Agricultural Bank of China after it exercised a greenshoe option in its Shanghai initial public offering, making it the world's biggest IPO. "I see the market will continue to rebound maybe another 150 points to 2,800 points," said Wang Aochao, analyst at UOB Kay Hian in Shanghai.

Source: Global Times

(Editor:黄蓓蓓)

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