China stocks rebound at midday Tuesday
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Xinhua, September 20, 2011
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China's stocks recovered at midday Tuesday from a near 14-month low after Premier Wen Jiabao called for more support of country's public housing construction projects.
The benchmark Shanghai Composite Index rose 0.41 percent, or 10.00 points, to end the morning session at 2,447.80.
The Shenzhen Component Index edged up 0.08 percent, or 8.21 points, to 10,665.84.
Cement producers led the market gains after Wen on Monday ordered local governments and financial institutions to back low-income housing, especially public housing projects. The government statement came after Monday's market closed.
Anhui Conch Cement Co. rose 1.57 percent to 17.42 yuan (2.73 U.S. dollars). Jiangxi Wannianqing Cement Co. added 3.05 percent to 14.51 yuan.
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