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People's Daily Online>>China Business

Chinese shares gain despite falling trade, surplus


11:05, February 11, 2012

BEIJING, Feb. 10 (Xinhua) -- Speculation over a property market loosening outweighed worries that falling trade may slow the economy further on Friday, lifting Chinese stocks out of negative territory to a weekly gain for a fifth straight week.

The benchmark Shanghai Composite Index added 2.39 points, or 0.1 percent, to close at 2,351.98, capping this week's gains to 2.23 percent.

The Shenzhen Component Index advanced 30.23 points, or 0.32 percent, to finish at 9,590.95, registering a weekly rally of 1.63 percent.

Fewer shares changed hands with thinner combined turnover of 153.46 billion yuan (24.38 billion U.S. dollars) on the two bourses, compared with 169.3 billion yuan on the previous trading day.

Gainers greatly outnumbered losing shares, by 569 to 299 in Shanghai, and by 847 to 481 in Shenzhen, with 219 shares remaining unchanged on the two markets.

Friday's rally came amid a string of newly released foreign trade and current- and capital-account surplus data by government departments.

China's exports posted the first monthly decline in more than two years in January by dropping 0.5 percent year-on-year to 149.94 billion U.S. dollars in January while imports plunged 15.3 percent to 122.66 billion U.S. dollars, revealed customs data released on Friday.

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