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A-Shares Pick Up After Bank Deposit Reserve Ratio Raised
000002.SZ, 600048.SH, China Vanke, Poly Real Estate, macro
Posted by: Li Jun on Mar 19, 2008 | 16:03
Editorial Summary
The Shanghai Composite Index rose 2.53 percent to close at 3,761.6 on Wednesday, after the People's Bank of China announced a 0.5 percent increase in the bank deposit reserve ratio to a record 15.5 percent, effective of March 25. The Shenzhen Composite Index increased 3.27 percent to close at 1117.7. Trading volume on the Shanghai and Shenzhen Stock Exchanges was RMB88.3 billion and RMB44.7 billion, respectively.
Real estate stocks led the markets' gains. Shares of China Vanke Co., Ltd. (000002.SZ) and Poly Real Estate Group Co., Ltd (600048.SH) climbed 9.56 percent and 8.58 percent on Thursday in Shenzhen and Shanghai, respectively.
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