Markets
China stocks end up at 2-week high - Tuesday
(Agencies)
Updated: 2011-02-01 15:55
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SHANGHAI: China's main stock index ended up 0.3 percent at a more than two-week high on Tuesday, led by resource issues such as oil companies, underpinned by easing liquidity conditions in the money market, Reuters reported.
China's key money market rates fell back sharply on Tuesday as cash calls on account of the week-long Lunar New Year holiday starting on Wednesday, eased, the report said according to traders.
The Shanghai Composite Index ended at 2,799 points, poking through the 125-day moving average level, now at 2,797 points.
It fell 0.6 percent in January due to a shortfall of cash in the domestic money market, a raft of anti-inflation measures including a hike in bank reserve ratio, price controls and the introduction of the country's first-ever property taxes.
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