英语文摘:Chinese shares hit 13-month high, boosted by financial, real estate, steel shares

BEIJING, July 14 (Xinhua) -- Chinese equities gained 2.1 percent to hit a 13-month high Tuesday after three days of losses, boosted by financial, real estate and steel shares.

    The benchmark Shanghai Composite Index closed at 3,145.16 points, up 64.6 points, or 2.1 percent. The Shenzhen Component Index closed at 12,991.06 points, up 330.51 points, or 2.61 percent.

    Total turnover expanded to 280.53 billion yuan (41.07 billion U.S. dollars) from 268.78 billion yuan on the previous trading day.

    Winners outnumbered losers by 795 to 67 in Shanghai and 667 to 74 in Shenzhen.

This multiple exposure picture shows an investor at a stock brokerage in Haikou, capital of south China's Hainan Province, on July 14, 2009. The benchmark Shanghai Composite Index on Tuesday closed at 3,145.16 points, up 64.6 points, or 2.1 percent to hit a new 13-month high led by banking shares

    "Strong investor optimism and a rebound in major markets in the United States and Europe driven by financial shares helped push up the gains in Chinese equities," said Qin Xiaojun, an analyst with Galaxy Securities.

    The Dow Jones Industrial Average gained 1.4 percent Monday with Bank of America, Citigroup, and J.P. Morgan Chase, three of its banking components, posted solid gains.

    Positive signals strengthened investor confidence as China posted a 19.6 percent fiscal revenue increase in June Monday.

    China's central bank Monday called on financial institutions to improve financial support to stimulate the economy.

    Brokerage shares performed well. Guoyuan Securities rose by the daily limit of 10 percent to close at 24.97 yuan, and Hongyuan Securities advanced 6.19 percent to 26.6 yuan.

    The real estate sector posted widespread gains as the Beijing-based Vantone Real Estate Co., Ltd and Xiamen-based Chuangxing Real Estate Co., Ltd reached the daily limit of 10 percent to close at 13.83 yuan and 11.31 yuan respectively.

    Anyang Iron and Steel Group Co., Ltd and Guangxi Liuzhou Iron and Steel Group Co., Ltd also rose by the daily limit to 5.48 yuan and 9.01 yuan respectively.

Investors are seen at a stock brokerage in Haikou, capital of south China's Hainan Province, on July 14, 2009. The benchmark Shanghai Composite Index on Tuesday closed at 3,145.16 points, up 64.6 points, or 2.1 percent to hit a new 13-month high led by banking shares.

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