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China's stocks open higher on Monday after week-long holiday

(Xinhua)

10:47, October 10, 2011

BEIJING, Oct. 10 (Xinhua) -- China's stocks opened higher on Monday after a week-long National Day holiday, as European leaders vowed to do "everything necessary" to resolve the region's debt crisis.

The benchmark Shanghai Composite Index climbed 0.16 percent to open at 2,363.08.

The Shenzhen Component Index opened 0.23 percent higher at 10,315.96.

European leaders said they would try their best to shield banks from a debt crisis, easing concerns that the region's troubles will continue to escalate.

During the holiday, the State Council, or China's Cabinet, pledged to give more financial support to cash-strapped small- and medium-sized companies, which analysts said also gave a boost to the stock markets.

Ping An Insurance Co., China's second-largest insurer, rose 0.71 percent to open at 33.81 yuan per share, while China Construction Bank gained 0.02 points to open at 4.42 yuan.

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