Equities edge up led by commodities, banks
China Daily | Updated: 2009-12-30 08:05
SHANGHAI: Mainland stocks rose to the highest in two weeks, erasing earlier losses, as commodity producers and banks advanced on speculation the nation's economic growth will boost demand for raw materials and loans.
The Shanghai Composite Index rose 22.98, or 0.7 percent, to close at 3211.76, the highest since Dec 16. The CSI 300 Index gained 0.6 percent to 3500.74.
"Growth isn't a problem for China next year," said Yan Ji, who helps oversee about $1.2 billion at HSBC Jintrust Fund Management Co in Shanghai. "Liquidity will still be adequate for the economy and the capital markets, as the government sticks to a loose monetary policy."
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