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Li's pledge on reforms helps index to advance

By Ye Zhen (Shanghai Daily)

09:58, November 24, 2012

SHANGHAI stocks rose yesterday as investors were cheered by Chinese Vice Premier Li Keqiang's pledge to deepen reforms to boost economic growth.

The Shanghai Composite Index rose 0.58 percent to 2,027.38 points. The index added 0.63 percent this week to notch the first weekly gain in three weeks.

Reform will be deepened to achieve sustainable and healthy economic growth in China, Li said in Beijing, according to Xinhua news agency.

Li's remarks lifted the sentiment of investors.

"Investors are comforted by the signs of reforms," said Zhou Lin, an analyst at Huatai Securities Co.

China Investment Securities said distillery shares may rebound after being oversold. Kweichow Moutai Co rose 2.3 percent to end at 222.23 yuan (US$35.66). Shanxi Xinghuacun Fen Wine Factory Co gained 3 percent to finish at 37.87 yuan.

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