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Chinese shares jump 6.12% as new yuan loans surge in Feb

(Xinhua)
Updated: 2009-03-04 15:50

BEIJING -- Chinese share prices jumped 6.12 percent Wednesday driven by media reports that new yuan loans in February may touch 1.1 trillion yuan (US$161 billion), analysts said.

Related readings:  Mainland stocks bring relief to HK shares  Chinese shares sink 1.05% on weak heavyweights  Shares continues declining on Friday

The benchmark Shanghai Composite Index jumped 126.68 points to 2,198.11. The Shenzhen Component Index on the smaller Shenzhen bourse surged 6.91 percent, or 532.07 points, to close at 8227.69.

Total turnover stood at 195.75 billion yuan, up from 127.18 billion yuan on Tuesday. On the Shanghai exchange, 917 shares rose while 30 fell.

In Shenzhen, 810 shares rose while only 2 fell.