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Shanghai Composite surpasses 3,000, rising more than 20% in 2 weeks
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THE Shanghai Composite Index surpassed 3,000 for the first time in three and a half years as a surprise slump in imports led the trade surplus to its highest in 14 years.
The index climbed 2.81 percent to 3,020.26 points, having risen more than 20 percent in two weeks.
China’s exports rose 4.7 percent in November from a year ago, while imports fell 6.7 percent in the same period, resulting in a trade surplus to US$54.5 billion. Yet both figures were worse than expected.
Investors must consider risks while putting money into stocks, China’s securities regulator warned yesterday. Deutsche Bank said that the stock market rally may delay the cut in banks’ reserve requirement ratio as authorities act to prevent a bubble.
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