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Broad rally lifts stocks in Shanghai

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advance7 May 22, 2012 (Chinavestor) Improving economic indicators and Wen Jiabao's pledge to support the economy lifted investor sentiment on the Mainland. The Shanghai Composite Index (SHA:000001) rose 25.0 points or 1.1% in a broad rally. Stocks that advanced outnumbered those that fell twenty to one among the largest components of the index. Poly Real Estate (SHA:600048), the largest property developer listed in Shanghai, rose 5.4%, the most among 50 latest components of the index. News that China will boost infrastructure development and low income housing spurred investor interest. China Vanke (SHE:200002), the nation's largest developer, surged as much as 4.3% in Shenzhen. Investors turned bullish in Hong Kong as well. The Hang Seng Index (INDEXHANGSENG:.HSI) rose 116.8 points or 0.6%, the most in tow weeks. Stocks that advanced outnumbered those that fell five to one among 42 components of the index. For top movers of the index, please visit the chart below.

pre_20120522



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