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China's Shanghai shares edge higher on bargain hunting; Shenzhen index lower |
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Tuesday, 16 September 2008 |
Chinese stocks are mixed, as the Shanghai benchmark ends an eight-session losing streak to edge higher on bargain hunting in oil refiners and other market heavyweights.
The benchmark Shanghai Composite Index Monday gained 0.2 percent, or 5.30 points, to 2,874.10. But the Shenzhen Composite Index, which mostly includes shares in smaller companies, dropped 1.8 percent to 840.05.
Property shares and refiners led the rebound on the Shanghai exchange, which analysts say was driven by bargain-hunting and gains Friday on Wall Street.
Mo Guangliang is an analyst at Orient Securities. Mo says "the prevailing sentiment is pessimistic. Many traders and analysts would rather not watch their computer screens during trading hours." |
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Last Updated ( Monday, 16 June 2008 )
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