ecns [expanded by feedex.net]: Chinese shares end higher, property strong

ecns [expanded by feedex.net]

ecns

Chinese shares end higher, property strong
http://www.ecns.cn/business/2014/04-02/107867.shtml
Apr 2nd 2014, 08:01





2014-04-02 17:01 Xinhua Web Editor: qindexing


Chinese shares closed up on Wednesday, led by property shares.


The benchmark Shanghai Composite Index went up 0.56 percent, or 11.53 points, to finish at 2,058.99. The Shenzhen Component Index rose 0.72 percent, or 52.48 points, to close at 7,333.59.


Combined turnover on the two bourses expanded to 165.44 billion yuan (26.67 billion U.S. dollars) from 139.71 billion yuan on the previous trading day.


Property shares performed strongly following media reports that several Chinese cities may soon ease house purchase restrictions amid an economic slowdown.


Eight developers including Huayuan Property soared by 10 percent, the highest percentage a stock is allowed to rise each trading day. The index tracking the property sector went up 2.71 percent.


Cement producers and alcohol makers also helped pull the market, with sub-indices tracking the two sectors up 2.17 percent and 1.44 percent respectively.


Bucking the trend, the ChiNext Index, a NASDAQ-style board tracking China's growth enterprises, lost 2.00 percent, or 27.07 points, to end at 1,327.98 points.









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