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China equities rebound almost 6% on regulator comment

(Xinhua)
Updated: 2008-08-20 15:01

This week, there is a large volume of shares coming out of lock-up periods, amounting to 18.9 billion shares valued at 120 billion yuan.

Related readings:  China equities ease on profit-taking, oil price hike  China to hasten direct overseas equities scheme  Real estate, Olympics shares up China equities by 2.99%

China Life Insurance, the country's leading life insurer, rose 8.26 percent to 25.16 yuan, while Ping An Insurance, another life insurance giant, saw its shares gain 8.28 percent to close at 44.45 yuan. Insurers benefited from overall investor confidence in the financial sector.

China Merchants Bank rose 7.13 percent to close the morning at 23.45 yuan. The Shanghai-listed lender reported first-half net profit of 13.245 billion yuan on Tuesday, up 116.42 percent year-on-year.

CITIC Securities, the country's largest listed broker, gained by the daily 10 percent limit to close the morning at 18.70 yuan.

Shares slid more than 5 percent on Monday to a 20-month low.

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