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Chinese Shares up 0.58%, Reacting to Stimulus Policy
[2009-02-24 09:54:00]
Chinese shares in Shanghai rose 0.58 percent during Friday's morning session, boosted by home electric appliance shares benefiting from the government's stimulus policy.
The State Council, or Cabinet, on Thursday announced plans to boost light industry and petrochemical sectors and decided two more products -- microwave ovens and induction cookers -- would be added to the list of home appliances that come with a government subsidy for rural buyers.
The benchmark Shanghai Composite Index gained 13.03 points to 2,240.15 points, while the smaller Shenzhen index went up 1.33 percent or 109.38 points to 8,323.28.
Gains outnumbered losers by 684 to 171 in Shanghai and 614 to 119 in Shenzhen.
Source: Xinhua
The State Council, or Cabinet, on Thursday announced plans to boost light industry and petrochemical sectors and decided two more products -- microwave ovens and induction cookers -- would be added to the list of home appliances that come with a government subsidy for rural buyers.
The benchmark Shanghai Composite Index gained 13.03 points to 2,240.15 points, while the smaller Shenzhen index went up 1.33 percent or 109.38 points to 8,323.28.
Gains outnumbered losers by 684 to 171 in Shanghai and 614 to 119 in Shenzhen.
Source: Xinhua
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