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Chinese Markets Surge to Record High

Investors fight off anxiety over US subprime woes

By Heather McPherson,  Newser User

Posted Aug 3, 2007 12:15 PM CDT
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(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.

Chinese investors gather near computers displaying stock information at an exchange in Liaoyuan, northeastern China's Jiliin province, Thursday Aug. 2, 2007. China's surging shares rebounded Thursday from a one-day fall prompted by a slide in other Asian markets amid worries about a slump on Wall Street and problems in the...
Chinese investors gather near computers displaying stock information at an exchange in Liaoyuan, northeastern China's Jiliin province, Thursday Aug. 2, 2007. China's surging shares rebounded Thursday...   (Associated Press)
Investors look at stock prices at a stock exchange in Changchun, China's Jilin province, Monday, July 23, 2007. Chinese stocks jumped nearly 4 percent Monday after tightening measures that the government announced on Friday removed uncertainty hanging over the market. (AP Photo) CHINA OUT
Investors look at stock prices at a stock exchange in Changchun, China's Jilin province, Monday, July 23, 2007. Chinese stocks jumped nearly 4 percent Monday after tightening measures that the government...   (Associated Press)
Investors look at stock prices at a stock exchange in Changchun, China's Jilin province, Monday, July 23, 2007. Chinese stocks jumped nearly 4 percent Monday after tightening measures that the government announced on Friday removed uncertainty hanging over the market. (AP Photo) CHINA OUT
Investors look at stock prices at a stock exchange in Changchun, China's Jilin province, Monday, July 23, 2007. Chinese stocks jumped nearly 4 percent Monday after tightening measures that the government...   (Associated Press)
An investor walks in front of the stock price monitor at a securities company Wednesday, June 6, 2007 in Shanghai, China. Chinese stocks rose modestly Wednesday for a second day after their recent plunge amid speculation that regulators might take steps to support the market. (AP Photo/Eugene Hoshiko)
An investor walks in front of the stock price monitor at a securities company Wednesday, June 6, 2007 in Shanghai, China. Chinese stocks rose modestly Wednesday for a second day after their recent plunge...   (Associated Press)
Japanese businessmen pass by a stock indicator in Tokyo Thursday, Aug. 2, 2007. Japanese stocks rose moderately Thursday, led by real estate shares like Mitsubishi Estate, bouncing back from a four-and-a-half month low the previous day. The Nikkei 225 rose 113.13 points, or 0.67 percent, on the Tokyo...
Japanese businessmen pass by a stock indicator in Tokyo Thursday, Aug. 2, 2007. Japanese stocks rose moderately Thursday, led by real estate shares like Mitsubishi Estate, bouncing back from a four-and-a-half...   (Associated Press)
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China • subprime mortgages • Chinese stock market • Shanghai Composite Index • stocks • Nikkei • Hang Seng • Chinese economy

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