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Market winning streak longest in 19 months

China Daily | Updated: 2009-03-25 07:53

Market winning streak longest in 19 months

China's stocks rose, driving the benchmark index to its longest winning streak in 19 months, led by banks after the government urged more lending to revive growth in the world's third-largest economy.

Bank of China Ltd added 0.9 percent and China Minsheng Banking Corp advanced 1.9 percent after the central bank pushed more lending to farmers and small businesses. PetroChina Co, the nation's biggest oil company, added 0.9 percent after crude oil climbed to the highest in four months.

"The central bank is firmly adopting the government's directive of using the loosening of monetary policy to stimulate the economy," said Zhao Zifeng, a fund manager at China International Fund Management Co in Shanghai. "With so much money pumped in, we'll see a positive impact on the economy."

Market winning streak longest in 19 months

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