Chinese stocks shored up by financials,property
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E-mail Xinhua, February 3, 2012
Chinese stocks extended gains on Friday, lifted by financial and property shares.
The benchmark Shanghai Composite Index went up 0.77 percent, or 17.85 points, to close at 2,330.41.
The Shenzhen Component Index gained 0.58 percent, or 54.86 points, to finish at 9,436.99.
Total turnover on the two bourses rose to 131.25 billion yuan (20.83 billion U.S. dollars) from 103.93 billion yuan on the previous trading day.
Gainers outnumbered losers by 819 to 92 in Shanghai and 1,290 to 85 in Shenzhen.
Banking shares rose across the board, with the Bank of Communications climbing 1.83 percent to 5.02 yuan per share. China Merchants Bank rose 0.85 percent to 12.98 yuan.
China announced on Wednesday that it will expand its fiscal budget for agriculture and direct more fixed-asset investment toward the sector in 2012.
The news gave a lift to fertilizer and pesticide shares, with the Noposion Corporation surging 9.14 percent to 9.55 yuan on Friday.
Property shares continue to firm on Friday. China Vanke Co., the country's largest property developer, rose 1.43 percent to 7.79 yuan, while Poly Real Estate Group Co., the second-largest, edged up 1.14 percent to 10.68 yuan.
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