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16:02, July 20, 2007 |
Chinese share prices rose sharply on Friday as investors shrugged off initial worries over further economic cooling measures after the release of strong economic data on Thursday.
The benchmark Shanghai Composite Index jumped 3.73 percent, or 145.91 points, to 4,058.85 points, the highest closing after hitting 4,078.6 points on June 27.
The index traded between 3,918.41 points and 4,062.12 points. It dropped 0.44 percent to finish at 3912.94 points on Thursday in response to the strong economic data.
The Shenzhen Component Index on the country''s smaller Shenzhen Stock Exchange gained 4.9 percent, or 627.02 points, to 13,417.96 points.
The Hushen 300 Index of the performance China''s two stock exchanges closed at 3,971.88 points, up 4.33 percent, or 164.89 points, from the previous close.
China''s economy expanded 11.9 percent in the second quarter this year, lifting first-half growth to 11.5 percent, the National Bureau of Statistics (NBS) announced on Thursday.
The consumer price index (CPI), the main gauge of inflation, rose 3.2 percent in the first half of this year compared with the same period of last year. In June, CPI jumped by 4.4 percent compared with the same month last year, well above the government''s target of three percent for 2007.
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