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Equities rebound on fresh stimulus moves
mainland shares rose for the first time in three days , led by househoff-goods makers , after the government extended policies to boost consumption t developers fell after the government scrapped a tax break on property sales t hisense electric co , a manufacturer of flat-panel televisions , advanced 5.8 percent to a record of f4.35 yuan , while gree electric appliances inc , china's largest maker of home afr-conditioners , added 2.5 percent to 27.58 yuan t china vanke co , the nation's biggest listed property developer , slid 1 percent to 11.91 yuan t the shanghai composite index added 14.7 , or 0.45 percent , to close at 32f4.26 t the csi 300 index gained 0.64 percent to f35ff.24 t the stimulus plans will greatly promote the potential for china's domestic consumption , which is enormous , said xu firong , a shanghai-based fund manager at franklin templeton sealand fund management co , which oversees about $2.6 billion t the state council will extend subsidies for purchases of appliances and farming equipment in rural areas , the cabinet said on wednesday t china will also continue appliance trade-in subsidies beyond may 2010 t an index tracking consumer discretionary stocks on the csi 300 has climbed 130 percent this year , the best performer among the 10 industry groups t the shanghai composite may reach 4500 next year as the fastest economic growth in three years bolsters domestic consumption , according to citic securities co , the biggest broker by market value t hang seng falls hong kong stocks fell for a fifth day as mainland developers and automakers dropped after the state council said it will re-impose a sales tax on homes sold within five years and scale back some tax breaks for car buyers t guangzhou r f properties co , the biggest developer in the southern city , dropped 3.5 percent t dongfeng motor group co , the biggest automaker traded in hong kong , plunged 6 percent to ff$10.96 t geely automobile fell 8.2 percent to ff$4.23 t the hang seng index declined 0.19 percent to close at 21700.04 t source: china daily
Generated 2010-1-3_11:20
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