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Chinese shares end at one-year high

(Xinhua)
Updated: 2009-06-24 16:52

BEIJING: Chinese equities rose 1.02 percent Wednesday to close at one-year high after the National Bureau of Statistics (NBS) said the country's economy has bottomed out.

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The benchmark Shanghai Composite Index rose 29.6 points, or 1.02 percent, to close at 2,922.3, the highest close since June 18 last year. The Shenzhen Component Index climbed 255.98 points, or 2.3 percent to end at 11,381.64.

Total turnover was 217.8 billion yuan (US$31.89 billion), expanding from 210.37 billion yuan the previous trading day.

China's gross domestic product (GDP) growth was expected to be almost 8 percent in the second quarter this year, said an article on the NBS web site Tuesday. The country's GDP grew 6.1 percent in the first quarter in 2009.

Statistics showed the decline in China's economy has bottomed out, the article said.