Thu, March 15, 2012
Business > Markets

Chinese shares up 0.36% in morning trade

2012-03-15 03:26:15 GMT2012-03-15 11:26:15(Beijing Time)  SINA.com

Chinese shares rose 0.36 percent in early trade Thursday, rebounding from sharp falls in the previous session after Premier Wen Jiabao said property controls would stay in place, dealers said.

The benchmark Shanghai Composite Index, which covers both A and B shares, rose 8.60 points to 2,399.83.

Wen, speaking at a news conference wrapping up a 10-day parliamentary meeting, said house prices were "still far from reasonable levels" and measures restricting property purchases would continue.

Property stocks fell in response to Wen's remarks and dragged the Shanghai Composite Index down by 2.63 percent, the biggest single day decline since November last year.

(Agencies)

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