BEIJING, April 11 (Xinhua) -- Chinese shares continued their record setting
pace, soaring to yet another record high on Wednesday, with the benchmark Shanghai Composite Index nearing the 3,500 after
blasting through 3,400 points on Tuesday.
The key stock indicator, which tracks both A- and B-shares, peaked at
3,497.52 points and ended the day at 3,495.22, up 1.48 percent over the previous
close. It rose 50.93 points on Wednesday with turnover of 157.819 billion yuan
(20.5 billion U.S. dollars).
The Component Index on the Shenzhen Stock Exchange also gained 101.10 points
to close at 9753.77 points on a transaction volume of 83.936 billion yuan (10.9
billion U.S. dollars).
The combined turnover for the two bourses also set a new high of 241.755
billion yuan (31.4 billion U.S. dollars). Turnover on Tuesday was 232.853
billion yuan (30.2 billion U.S. dollars) which was the previous record.
The Shanghai stock exchange recorded 456 gainers and 374 losers, with 62
shares unchanged, while the Shenzhen exchange saw 331 gainers and 253 losers,
with 72 shares unchanged. Banking, steel and nonferrous metal shares again lead
the way.
With the Shanghai index continuing to post record highs, analysts with
Shenyin Wanguo Securities say a correction can be expected.
Other analysts, however, believe the bullish trend will be maintained, backed
by the growing national economy.
On Wednesday, the Hushen 300 Index, which tracks stocks on the Shanghai and
Shenzhen stock exchanges, closed at 3,121.32 points, up 39.75 points from the
previous close.
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