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2009-2-3 11:56:00 a.m. HKT, XFNA
DJ MARKET TALK: China Shares Turn Higher On Govt Stimulus Hopes
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| 1146 [Dow Jones] China shares turn higher midday, led by gains in shipbuilding, textile, oil refining firms on hopes Beijing may soon issue stimulus measures to support those sectors. Shanghai Composite +1.4% at 2039.32 in heavy trade vs 2005.02 intraday low; may test psychological resistance at 2050 later, analysts say. Market "is expected to continue the strong performance as Beijing is likely to release more stimulus package soon and stocks in regional markets remained stable recently," says Chen Jinren, analyst at Huatai Securities. PetroChina (601857.SH) +0.8% at CNY10.43, China State Shipbuilding (600150.SH) +4.1% at CNY48.20, Jingwei Textile Machinery (000666.SZ) +4.1% at CNY3.79. Shenzhen Index +1.5% at 632.05. (JIN)
(Delayed by 1 hour)
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