Markets

China's stocks rise Monday on RMB exchange rate flexibility announcement

(Xinhua)
Updated: 2010-06-21 16:31
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BEIJING - Chinese equities rose on Monday as the Chinese government said over the weekend that it would allow greater flexibility in the yuan's exchange rate.

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The benchmark Shanghai Composite Index gained 2.9 percent to close at 2,586.21.

The Shenzhen Component Index rose 3.44 percent to end at 10,309.61.

Total turnover expanded to 150.77 billion yuan ($22.17 billion) from 145.93 billion yuan on the previous trading day.

Gainers outnumbered losers by 839 to 44 in Shanghai and 928 to 44 in Shenzhen.