China's Stocks Rally for 8th Day as Shanghai Composite Climbs Above 3,000
By Bloomberg News -
2010-10-18T01:38:37Z
China’s stocks rallied for an eighth day, driving the Shanghai Composite Index above 3,000 for the first time April, as the nation’s economic growth and prospects for yuan appreciation spur fund flows into the country.
The Shanghai Composite Index, which tracks the big China’s stock exchanges, gained 37.2, or 1.3 percent, to 3,008.44 at 9:36 a.m. local time, heading for the first close above the 3,000 level since April 21. The 915-stock measure entered a so-called bull market on Oct. 12, rebounding 28 percent from the 2010 low on July 5.
To contact the editor responsible for this story: Allen Wan at awan3@bloomberg.net
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