China's stock indexes have had their biggest jumps in
eight weeks bolstered by the government's promise of liberalizing pension
fund business in the stock market.
China Securities Journal reports that the government
set criteria for brokerages to manage more of the nation's 100 billion yuan,
or US$12 billion in corporate pension funds.
The Shanghai Composite Index, which tracks yuan-denominated
A. shares and foreign-currency B. shares on the city's stock exchange,
advanced 47 points to close at 1,354.
The Shenzhen Composite Index, which tracks the smaller
of the two Chinese markets, jumped by 118 points at 3,254. Both indexes had
their biggest gains since Sept. 15.
Stocks also got a boost after a government report
showed industrial production rose at its slowest pace in three months in
October, indicating a successful policy on macro economic control by the
government.
