China's Stock Market Leads the World in Growth Rate in 2000
China's stock markets saw a much strong performance immediately after the New Year in 2000 and remained on the rise in the ensuing eight months. The indices charged again before the year-end after a short-lived consolidation and maintained the momentum to the next century. The related date indicated Shanghai composite index closed the year at 2073.48 points, soaring 706.90 points or 51.7 percent over the precious year and Shenzhen composite index ended the year at 635.73 points, surging 233.55 points or 58.1 percent than the year before. The B share markets also posted remarkable growth. Shanghai B share market opened at 37.91 points at the start of 2000 and surged all along. In the last two weeks of the twentieth century, it hit three-year record highs thrice and closed the year at 88.24 points, shooting up 130 percent. Shenzhen B share market also leaped from 559.96 at the beginning of the year to 911.68 points, reporting a growth of over 60 percent. Overseas investors were satisfied with performance of B shares in the last year and claimed "China's B share market is one of the best performing rising markets in Asian-Pacific region in 2000." In 2000, affected by the bubble of hi-tech shares and the trend of American economy, stock markets posted declining movement worldwide. Data indicated only the indices of 6 markets out of 38 major securities markets in the world registered growth. American and southeastern markets were the biggest losers, especially the markets of Korea and Thailand that slumped nearly 50 percent. The markets of other countries fell 20 percent at large. Source:Panorama | ||||||||||||||||||||
| People's Daily Online --- http://english.peopledaily.com.cn/ |