Call to bolster economy lifts index
By Lu Nengneng |
March 14, 2012, Wednesday
|
Print Edition
Print Edition
SHANGHAI'S stocks rose yesterday following calls for more private investments which boosted financial heavyweights, while property developers gained after policies to guarantee loans to qualified first-home buyers were strengthened.
The Shanghai Composite Index added 0.86 percent to close at 2,455.8, paring the losses it suffered on Monday.
The Chinese People's Political Consultative Conference, which concluded yesterday morning, encouraged more private investors to help bolster China's economy.
The Bank of Communications gained 1.03 percent to 4.91 yuan and China Construction Bank added 0.64 percent to 4.78 yuan.
China Vanke rose 2.04 percent to 8.52 yuan and Poly Real Estate added 0.98 percent to 11.34 yuan after the China Securities Journal said yesterday that mortgages would be guaranteed to eligible first-home buyers this year.
The Shanghai Composite Index added 0.86 percent to close at 2,455.8, paring the losses it suffered on Monday.
The Chinese People's Political Consultative Conference, which concluded yesterday morning, encouraged more private investors to help bolster China's economy.
The Bank of Communications gained 1.03 percent to 4.91 yuan and China Construction Bank added 0.64 percent to 4.78 yuan.
China Vanke rose 2.04 percent to 8.52 yuan and Poly Real Estate added 0.98 percent to 11.34 yuan after the China Securities Journal said yesterday that mortgages would be guaranteed to eligible first-home buyers this year.
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