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July 25, 2008 12:13:49 AM CDT

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Chinese Markets Surge to Record High

Posted Aug 3, 07 12:15 PM CDT in World,  Business 

(Newser) – China’s securities markets recovered from Wednesday’s Pan-Asian slump and then some, surging to their third new record this week in today's trading. The Shanghai Composite Index climbed 3.5% and the Shenzhen gained 2.3% after the codependent Nikkei and Hang Seng tumbled Wednesday on concerns about the stability of the subprime-backed US Market.

China's economy expanded by 11.9% last quarter, its fastest pace since 1995, spurring investment in its usually volatile stock market, especially in property development and financial services. The property-heavy Shanghai is up 60% this year already.

Source Associated Press

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China  • subprime mortgages  • stocks  • Nikkei  • Chinese economy  • Hang Seng  • Chinese stock market  • Shanghai Composite Index


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