Chinese shares rebound, driven by property firms, banks







BEIJING, July 17 (Xinhua) -- Chinese shares rebounded on Tuesday with the benchmark Shanghai Composite Index up 1.94 percent, ending decline for two consecutive trading sessions.



The key Shanghai index, which covers both A- and B-shares listed on the Shanghai Stock Exchange, climbed 74.27 points to finish at 3,896.19. It fell 2.36 percent to finish at 3,821.92 on Monday.



The Shenzhen Component Index on China's smaller Shenzhen Stock Exchange rose 3.48 percent, or 428.79 points, to 12,759.98.



Analysts, however, said the rebound did not indicate a fully recovery in investors' confidence as the turnover was still relatively small compared with its record high levels.



The combined turnover of the two bourses stood at 131 billion yuan (17.3 billion U.S. dollars), much higher than 91.5 billion yuan on Monday, but still lower than the average daily level of 200 billion yuan in May.



Real estate firms and banks led the advance. Petrochemical, 3G (third generation mobile communication) and telecom sectors were also among the day's big gainers.



Editor: Bi Mingxin
关键字:财经新闻
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