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Stimulus plan spurs index higher

SHANGHAI'S key stock index closed higher today after the Finance Minister reiterated that macroeconomic policies would continue to stimulate the economy.

The benchmark Shanghai Composite Index added 0.68 percent, or 19.51 points, to close at 2,881.12 points. Turnover was 146.74 billion yuan (US$21.58 billion). Gainers outnumbered losers 565 to 257 and 51 remained unchanged.

The Shenzhen Composite Index, which tracks the smaller domestic market, advanced 1.13 percent to close at 979.45 points.

"China will stick to its stimulus policy as the recovery is still not solid," Finance Minister Xie Xuren said on Sunday.

Xie said the series of measures to promote economic growth have already achieved results as he was attending the G20 meeting in London, Xinhua news agency reported.

Shandong Gold Mining Co soared 7.97 percent to 59.89 yuan. Zijin Mining Co advanced 2.55 percent to 9.24 yuan. Zhongjin Gold Co rose 4.88 percent to 56.76 yuan.


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