Money

Equities up as stimulus may stay

(China Daily)
Updated: 2010-03-09 10:31
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SHANGHAI - The mainland's stocks rose for a second day on the prospect the government may delay withdrawing stimulus to support the economy and won't announce additional measures to crack down on the property market.

Baoshan Iron & Steel Co advanced 2.9 percent and China Shenhua Energy Co gained 1.3 percent after central bank Governor Zhou Xiaochuan said the nation should be careful in exiting anti-crisis policies. Cosco Shipping Co climbed 2.8 percent as Citic Securities Co recommended buying the shares.

Related readings:
Equities up as stimulus may stay Chinese shares close higher Monday
Equities up as stimulus may stay China to face stimulus exit problem sooner or later
Equities up as stimulus may stay Senior officials condemn the housing bubble
Equities up as stimulus may stay China's 2009 housing investments rise 16.1%

Poly Real Estate Group Co led developers higher on a report that a government document didn't mention a property tax.

The Shanghai Composite Index added 22.17, or 0.7 percent, to 3053.23 at the close. The CSI 300 Index rose 0.8 percent to 3286.18 on Monday.

"It's a good opportunity to be very bullish on China," said Larry Pohlman, who helps oversee about $21 billion as chief investment officer at Alfred Berg. "Year to date, it's underperformed probably almost all the other emerging-market countries. It's really cheap."

While Hong Kong's Hang Seng Index gained 2 percent to close at 21196.87, set for its highest close since Jan 20.

Equities up as stimulus may stay

Equities up as stimulus may stay
Equities up as stimulus may stay

Equities up as stimulus may stay