Shanghai recovers after biggest drop in a decade
February 28th, 2007 by helpfulfactsThe Shanghai Composite Index rose 3.9 percent to 2,881.07, while the Shenzhen Composite Index gained 3.8 percent to 736.81.
The Shanghai index’s 8.84 percent plunge yesterday wiped out US$107.8 billion from a stock market that has doubled in the past year.
“Confidence is regaining now after the rumors that hit the market yesterday,” said Lu Yizhen, who helps manage about US$640 million at Citic-Prudential Fund Management Co in Shanghai.
“For the long-term, China’s stocks still point to an upside
trend,” Liu said.
Posted in Stock Market |
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