Chinese stocks jumped for a second day on Monday, gaining nearly 8 percent amid surging volume, as investor confidence got a further boost from several developments, including an easing on rules on share buy-backs and the massive US rescue plan.[Xinhua]
Chinese share price jumped for a second day on Monday as investor confidence got further boosted by news including the U.S. massive rescue plan and easing rules on shares buy-back.
The benchmark Shanghai Composite Index finished up 161.32 points, or 7.77 percent, at 2,236.41, extending the 9.45 percent gain on Friday.
The Shenzhen Component Index gained 315.07 points, or 4.40 percent, to 7,469.07.
The U.S. Treasury over the weekend proposed buying up 700 billion U.S. dollars of mortgage-related securities amid the latest efforts to stem the financial crisis.
(Xinhua News Agency September 22, 2008)