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Strategies & Market Trends : Greater China Junior Stocks

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From: Julius Wong	4/24/2008 12:00:54 AM
	of 1992

Chinese Stocks Surge After Trading Tax Cut; Citic Leads Gains By Zhang Shidong and Chua Kong Ho April 24 (Bloomberg) -- Chinese shares surged after the government cut a tax on equity trading to bolster the world's second worst-performing market this year. Citic Securities Co., the nation's biggest brokerage, gained on speculation a stock market rally will boost the value of shares held and increase trading income. China Life Insurance Co., the nation's biggest insurer, climbed on optimism gains from equity investments will increase. The CSI 300 Index, which tracks yuan-denominated A shares listed on China's two exchanges, climbed 314.20, or 9.1 percent, to 3,767.92 as of 10:20 a.m. local time. The gain was the most on record for the three-year-old benchmark. All 10 industry groups on the 300-member measure advanced, with about 80 stocks climbing by the 10 percent daily limit. bloomberg.com

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