Stocks In China Recovered From Record Plunge (Dong Zhixin)

Created by : Francis Goodwin View profile

Chinese stocks recovered five percent Wednesday from the sharpest fall in a decade in the previous session as other Asian markets continue to fall.

By Dong Zhixin -- Associated Press

Feb. 28, 2007 -- Shanghai, China. -- Chinese stocks recovered five percent Wednesday from the sharpest fall in a decade in the previous session as other Asian markets continue to fall.

The benchmark Shanghai Composite Index rose 109.28 points, or 3.94 per cent, to 2,881.07. The Shenzhen Composite Index gained 27 points, or 3.80 per cent to 736.81. The Shanghai and Shenzhen 300 index of major companies was up 87.08 points, or 3.54 per cent, to 2,544.57.

The market may embrace a piece of good news as a top leader is expected to speak on how to develop the market in a stable way Wednesday evening, web portal sina.com reported.

In contrast to Tuesday's plunge for most stocks, the advancing shares far outnumbered the decliners in both bourses. In Shanghai, 711 shares rose while only 63 ones fell. The gainers outnumbered the losers by a ratio of 13 to 1 in the Shenzhen market.