Source: Xinhuanet

04-24-2007 09:46

BEIJING, April 23 (Xinhua) -- Chinese shares soared to another new high on Monday, with the benchmark Shanghai Composite Index, led by steel and bank stocks, breaking the 3,700-point mark for the first time.

The index, which covers both yuan-denominated A-shares and foreign currency-denominated B-shares on the Shanghai Stock Exchange, jumped 126.69 points or 3.53 percent to close at a record 3,710.89 points. Turnover reached 184.5 billion yuan (23.65 billion U.S. dollars).

The component index of the smaller Shenzhen Stock Exchange was up 426.42 points or 4.16 percent to 10,685.06 points on turnover of 105.4 billion yuan.

The vast majority of the shares moved up - including 828 on the Shanghai bourse and 578 on the Shenzhen bourse - with 110 of them going up by the maximum ten percent.