Greater China stock market summary
11 Jul 2008
Xinhua Newsfeed
BEIJING (XFN-ASIA) - A summary of Greater China stock market trading Friday
HONG KONG
Share prices closed higher led by Hong Kong Exchanges and Clearing (HKEx), telecoms giant China Mobile, handset maker Foxconn, China banks and Aluminum Corp of China (Chalco). Reports that the US government is considering a plan to take over one or both of the nation's largest mortgage financiers, Fannie Mae and Freddie Mac, helped the market hold up in the afternoon despite a rise in oil prices. The Hang Seng index closed up 362.77 points or 1.66 pct at 22,184.55.
CHINA
China A-shares closed lower for a second day led by property stocks, with the market continuing to consolidate after gains earlier in the week. The benchmark Shanghai Composite Index closed down 18.82 points or 0.65 pct at 2,856.63. The Shanghai A-share Index was down 19.85 points or 0.66 pct at 2,996.28, while the Shenzhen A-share Index fell 10.35 points or 1.13 pct to 901.93. China B-shares closed mixed, with Shanghai property developers seen as possible plays on a planned Disney theme park in the city rebounding late in the session. The Shanghai B-share Index rose 0.23 points or 0.11 pct to 219.77, while the Shenzhen B-share Index lost 3.50 points or 0.73 pct to 477.64.
TAIPEI
Share prices closed sharply higher as major blue chips gained following a positive lead from Wall Street and an upswing on many regional bourses after early sluggishness. Dealers noted that heavyweights led a broad rally, with investors taking a view that stocks have been oversold in the last two months. The weighted index closed up 169.11 points or 2.39 pct at 7,244.76.
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