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Article: Chinese shares rise to new 1-year high
- Article from:
- AP Worldstream
- Article date:
- July 3, 2009
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China's shares edged up Friday to a new one-year high on optimism about a possible economic revival, with real estate and dairies up but banks and metals mixed.
The benchmark Shanghai Composite Index climbed 1.67 points, or 0.05 percent, to close at 3,061.93, its highest level since June 10, 2008. For the week, it rose 3 percent.
The Shenzhen Composite Index for China's second, smaller market rose 1.38 percent, or 13.66 points, to 1,000.68.
Real estate rose strongly. Poly Real Estate Group surged 6.9 percent to 14.28 yuan, while rival China Vanke Ltd., the country's biggest developer, gained 6.9 percent percent to 29.30 yuan.
"Investors kept pouring money into ...