Tech stocks up on govt spending plan

SHANGHAI - China National Software & Service Co and Hualan Biological Engineering Inc led a rally for technology and healthcare stocks on government plans to increase investment in these industries to boost domestic demand.

Mainland stocks dropped on Thursday. The Shanghai Composite Index lost 18.77, or 0.7 percent, to close at 2552.66, the lowest since April 30, 2009.

China National Software jumped by 10 percent daily limit to 19.43 yuan ($2.85) at the close while Hualan Biological gained 3.1 percent to a record 49.20 yuan.

An index tracking info-tech stocks was the biggest gainer among 10 industry groups on the CSI 300 Index. The CSI 300 Index slid 0.8 percent to 2736.08.

Bloomberg News

(China Daily 06/04/2010 page17)