Jul 24, 2008
Story Timeline: 75 days
Chinese shares rose Thursday, led by gains in real estate and financial stocks on optimism that lower oil prices might ease inflation pressure and improve the economy's outlook in the second half. The benchmark Shanghai Composite Index rose 2.55 percent to close at 2910.29. The Shenzhen Composite Index jumped 2.43 percent to 866.64 at the close. "Investors are acting as if they believe the economy will achieve a soft landing in the second half. Government statistics show the Chinese economy is slowing down, but it's in general still doing well," said Zhang Linchang, an analyst for Guotai Junan Securities. Poly Real Estate Group climbed by 9.95 percent, nearing the maximum 10 percent daily limit. Its major rival China Vanke Ltd., the country's biggest listed property developer, added 6.66 percent. China's biggest commercial...
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