 China shares were higher in early trade higher after Wall Street closed stronger amid expectations of more Fed rate cuts, dealers said.
Property developers continued to rise after further appreciation in the yuan. Yesterday, the yuan finished at a new high of 7.1945 to the dollar on the over-the-counter (OTC) market, the fifth consecutive day the currency has closed at record levels.
At 9:46 am, the benchmark Shanghai Composite Index was up 65.63 points or 1.47 pct at 4,523.58.
Poly Real Estate Group Co Ltd (SHA 600048) jumped 5.41 pct to 69.40 yuan, and Shenzhen Overseas Chinese Town Holding Co Ltd (SZA 000069) gained 2.60 yuan to 47.60.
China Vanke Co Ltd (SZA 000002; SZB 200002) added 0.79 yuan to 26.82.
(1 usd = 7.2 yuan)
Source: http://www.afxnews.com/ |
