China stocks soar more than 3%

15:16, October 08, 2010      

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Chinese stock markets soared by more than 3 percent on Friday, led by big gains in financials and resources, as trading resumed after a week-long National Day holiday.

Investors are boosted by rising global prices of resources including oil and minerals and buoyed by stock surges in US, Japan and other markets during the Chinese break.

The benchmark Shanghai Composite jumped 3.13% to close at 2,738.74 point Friday, rising 83.09 points. Trading was heavy as the turnover hit more than 167 billion yuan. The Shenzhen stock index closed at 11911.37 points, soaring 3.86 percent over the previous session on September 30.

Jiangxi Copper Co., Zijin Mining Group Co. and Yanzhou Coal Mining Co. jumped by the day's 10 percent ceiling in Shanghai, while Yunnan Copper Co. and Tongling Nonferrous Metals Group Co. did the same in Shenzhen.

Real-estate shares also snapped out of their early losses in the day amid the market euphoria, overcoming policy tightening concerns, with Poly Group Corp climbing 2.91%.

By People's Daily Online


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