China shares surge 5.89 pct by midday (AFP)
20.08.2008 16:00 Business - Source: Yahoo Business
SHANGHAI (AFP) - Chinese share prices surged 5.89 percent by midday Wednesday amid speculation that the authorities will soon launch new measures to boost the ailing stock market, dealers said.
The benchmark Shanghai Composite Index, which covers A and B shares, was up 138.17 points, or 5.89 percent, at 2,482.64. It had fallen around 60 percent from its peak last October ahead of Wednesday's rally.
The Shanghai A-share index added 144.91 points, or 5.89 percent, at 2,605.95 points, while the Shenzhen A-share index rose 42.01 points, or 6.02 percent, to 739.29.
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