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Shares rise as economic growth exceeds estimate
By Lydia Chen |
July 13, 2011, Wednesday
|
Online Edition
Online Edition
Shanghai shares rebounded in the morning session, pairing the biggest loss in seven weeks yesterday, as data revealed China's economy grew a better-than-expected 9.6 percent in the first half of this year.
The Shanghai Composite Index climbed 1.2 percent to 2,787.72. Turnover remained little changed from yesterday at 53.15 billion (US$8.23 billion).
Financials and developers, which were the major dragging force in yesterday's fall, reversed gloomy performance and paced the gains in the morning trading today as the growth rate helped ease investors concerns about the economy.
Industrial & Commercial Bank of China added 1.17 percent to 4.34 yuan. Ping An Insurance Group climbed 2 percent to 47.51 yuan. Citic Securities advanced 1.48 percent to 13.01 yuan. China Vanke jumped 1.29 percent to 8.61 yuan.
China's gross domestic product rose 9.5 percent in the second quarter from a year earlier, the statistics bureau said in Beijing this morning, after a 9.7 percent gain the previous three months.
The Shanghai Composite Index climbed 1.2 percent to 2,787.72. Turnover remained little changed from yesterday at 53.15 billion (US$8.23 billion).
Financials and developers, which were the major dragging force in yesterday's fall, reversed gloomy performance and paced the gains in the morning trading today as the growth rate helped ease investors concerns about the economy.
Industrial & Commercial Bank of China added 1.17 percent to 4.34 yuan. Ping An Insurance Group climbed 2 percent to 47.51 yuan. Citic Securities advanced 1.48 percent to 13.01 yuan. China Vanke jumped 1.29 percent to 8.61 yuan.
China's gross domestic product rose 9.5 percent in the second quarter from a year earlier, the statistics bureau said in Beijing this morning, after a 9.7 percent gain the previous three months.
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