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Chinese shares close higher at midday Monday


15:01, November 14, 2011

BEIJING, Nov. 14 (Xinhua) -- China's stocks surged on Monday morning over weekend Wall Street rally and strong bank lending data for October.

The benchmark Shanghai Composite Index moved up 1.63 percent, or 40.35 points, to close the morning session at 2,521.44.

The Shenzhen Component Index rose 1.81 percent, or 188.42 points, to close at 10,607.36.

The Dow Jones industrial average gained 2.19 percent on Friday on stabilization signs of European debt crisis and the better-than-expected consumer sentiment report in the United States.

China's central bank announced Friday that the country's new yuan-denominated loans reached 586.8 billion yuan (92.7 billion U.S. dollars) in October, sharply higher from 470 billion yuan in September and above market estimates of around 500 billion yuan, as the government seeks to "fine-tune" its tightening monetary policy to support economic growth.

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