Shares edge up, led by financials, property
China Daily | Updated: 2009-06-18 08:09
The mainland stocks rose, led by financial companies, after Vice-Premier Li Keqiang reiterated the government won't tighten lending conditions and China Business News said real estate investment trusts may be permitted.
"Li's comments reassured the market," Li Shaoming, a Beijing-based property analyst at China Jianyin Investment Securities Co, said. "The introduction of real estate investment trusts will provide property companies with another financing avenue."
The Shanghai Composite Index gained 34.1, or 1.2 percent, to 2810.12 at the close, reversing an earlier drop of 1.2 percent.
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