China Stock Market Research

HONG KONG

Share prices closed higher led by China stocks as the Shanghai bourse extended Friday’s 9.5 pct surge after Beijing took more measures to support its markets. Investors also welcomed the US government’s rescue plan for banks, though there are some doubts whether the bailout would end all the problems in the US. The Hang Seng index closed up 304.47 points or 1.58 pct at 19,632.20.

CHINA

China A-shares closed sharply higher, extending Friday’s 9.46 pct surge in the benchmark index, after regulators took further measures to support the markets following the recent global financial turmoil. The benchmark Shanghai Composite Index closed up 161.32 points or 7.77 pct at 2,236.41. The Shanghai A-share Index rose 169.46 points or 7.78 pct to 2,348.57, while the Shenzhen A-share Index added 24.07 points or 3.85 pct to 649.41. China B-shares closed higher on follow-through buying after Friday’s 10 pct gain as mainland regulators moved to make it easier for companies to buy back shares. The Shanghai B-share Index was up 8.60 points or 7.08 pct at 130.20, while the Shenzhen B-share Index rose 3.22 points or 1.03 pct to 314.89.

TAIPEI

Share prices closed sharply higher after the US government unveiled plans to buy up to 700 bln usd of distressed assets from financial institutions in a bid to shore up the credit markets. The market also got a boost from local curbs on short sales. The weighted index closed up 140.22 points or 2.35 pct at 6,110.60.

Source: (XFN-ASIA)

Filed under: Hong Kong Stocks, Chinese Stocks, China Property Market, Market Summary, Shenzhen Stock Exchange, Taipei Stock Market by CSMR