Chinese markets post fourth straight day of gains
9 April 2008
Stocks in Shanghai and Shenzhen rose on Tuesday to post their fourth straight day of gains, AP reported. The Shanghai Composite Index rose 12.92 points, or 0.4% to 3,612.54 points, while the Shenzhen Composite Index rose 1.9% to close at 1,087.86. Brokerages were among the companies behind the gains, as Haitong Securities rose 4.9% to US$4.79, and Guoyuan Securities rose 10%, the daily limit, to close at US$3.09. Rice companies also rose, thanks to gains in rice futures on the Chicago Board of Trade. However, the day saw banks fall as investors remained concern about the impact of monetary tightening on bank earnings.
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