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Article: RMB appreciation beneficiaries help Chinese stock market end a buoyant week.
- Article from:
- China Business News
- Article date:
- July 29, 2005
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RMB appreciation beneficiaries help Chinese stock market end a buoyant week
Shanghai. July 29. INTERFAX-CHINA - A-Share markets in Shanghai and Shenzhen had a buoyant week, led by the beneficiaries of RMB appreciation. By Friday's close, the benchmark Shanghai composite index (SCI) had risen 3.51% to end at 1,083.03 points while its counterpart in Shenzhen had advanced 3.62% from the previous week to close at 254.46 points.
The most significant rallying point in the week was the higher-valued Chinese currency, which was of benefit to raw material importers such as crude refiners, and to large cash-holding banks.
The buoyant spirit was ...