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Stocks see largest growth in month with 4.58% hike

By Li Zengxin (chinadaily.com.cn)
Updated: 2007-07-06 15:21

An investor smiles at a stock exchange in Hengyang, Hunan Province. After seeing the largest plunge in comparative terms in a month yesterday, Chinese stocks made a U-turn and achieved the biggest growth for a month today. [newsphoto]

After seeing the largest plunge in comparative terms in a month yesterday, Chinese stocks made a U-turn and achieved the biggest growth for a month today. The Shanghai Composite Index closed at 3,781.35, up 165.48 points or 4.58 percent.

Total turnover of the stocks enclosed by the major indices was 142.1 billion yuan, the largest this week but still low compared with previous weeks.

The benchmark opened lower from 3,599.82 and rocked to the highest 3,689.76 in half an hour but then slid all the way down to 3,563.54 at the close soon before the noon break. From then on, it surged in waves to tough the highest 3,785.35 near the close.

The Shenzhen Component Index, tracking the smaller Shenzhen Stock Exchange, opened lower from 11,729.78 but closed at 12,395.35, up 611.77 points or 5.19 percent from yesterday's closing. It went through the day within a range from 11,654.46 to 12,409.72.