Markets
Hainan stocks climb most on tourism project
By Qiang Xiaoji (chinadaily.com.cn)
Updated: 2010-02-05 16:51
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Stocks in Hainan yesterday soared by 7.71 percent on the construction of the Mangrove Tree Resort in the coastal city of Sanya, topping China's stock market, the Beijing News reported today.
More than half of the shares related to Hainan rose by the 10 percent daily limit yesterday, due to investors' speculation that the government plans to turn Hainan into a top international tourism destination, which also spurred local property boom recently.
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Hainan Expressway Co, which mainly constructs and maintains expressways in the province, and Haikou Agriculture & Industry & Trade (Luoniushan) Co, a Hainan-based developer, almost doubled in stock prices, gaining 99.82 percent and 85.88 percent respectively in 2010.
