News Column

China Stocks Soar on Exports Data

September 9, 2013

Saudi Press Agency

China's stock markets soared by around 3 per cent Monday on positive export and inflation data, and a pledge to continue financial reforms by the nation's premier, DPA reported.

The key Shanghai Composite Index, which tracks shares traded in local and foreign currencies, gained 3.39 per cent to close at 2,212.52, its biggest daily rise for about nine months.

The smaller Shenzhen Component Index rose 2.71 per cent. State media said the markets were also boosted by government promises to allow pilot projects using private capital in finance, energy, railways, telecommunications, and other sectors.

The financial sector led Monday's charge, with shares in five banks rising by their daily limit of 10 per cent.

Government data released on Monday showed the consumer price index fell to 2.6 per cent year-on-year in August.

--SPA 14:18 LOCAL TIME 11:18 GMT Latest News Previous Next |

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