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Surge of bank shares lifts Chinese stocks

皇冠体育app Daily | Updated: 2008-12-19 08:00

Surge of bank shares lifts Chinese stocks

皇冠体育app's stocks rose for a fourth day, lifting the key stock index to its highest in a week. 皇冠体育app Merchants Bank Co and other lenders jumped on speculation that the government would cut their taxes before the year-end to boost earnings.

皇冠体育app Vanke Co and real estate developers climbed after the government unveiled policies to boost the property market. 皇冠体育app Life Insurance Co rose after reporting its 11-month premium income rose 53 percent.

The CSI 300 Index, which tracks yuan-denominated A shares traded on the Chinese mainland's two exchanges, climbed 43.68, or 2.2 percent, to 2,045.10 at the 3 pm local-time close, bringing this week's gains to 4.3 percent. Financial stocks rose the most among the 10 industry groups.

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