A-Shares Grow; Heavyweights in Lead
The Shanghai Composite Index rose 1.51% to close at 3,188.78, while the Shenzhen Composite Index grew 1.54% to end at 1,186.2 on December 28. Trading volume on the Shanghai and Shenzhen Stock Exchanges was RMB 110.618 billion and RMB 71.52 billion, respectively.
Heavyweights all expanded today, with Petrochina (0857.HK, NYSE:PTR, 601857.SH) up1.36%, China Petroleum & Chemical Corporation (Sinopec) (NYSE:SNP, 600028.SH, 0386.HK) increasing 1.73% and Industrial and Commercial Bank of China (ICBC) (1398.HK, 601398.SH) rising 1.56%.
Chinese Prime Minister Wen Jiabao said in an interview with Xinhua on December 27 that an early suspension of the country's monetary policies could damage or even reverse the country's economic development, Sina reported December 27.
Securities shares reported strong gains on Monday, following Yan Bian Highway Construction's announcement that it plans to issue new shares to merge with Guangfa Securities, according to a separate Sina report. Shares of Guangda Securities (601788.SH) rose 4.27%, shares of Citic Securities (600030.SH) increased 3.57% and shares of Guoyuan Securities (000728.SZ) gained 3.29%.
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