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Follow on Google News | China A shares rise on fund approvalLondon, Wednesday, February 20, 2008 -- ARANCA NEWSTRACK – (aranca)
By: Aranca Prices rose after the securities regulator granted approval for the launch of two new open-ended funds by Bank of China Investment Management Co and AXA SPDB Investment Managers. This helped the Shanghai Composite Index to rise 64.01 in early morning trading yesterday, with the highest gains being recorded by telecommunications companies and banking institutions. The moves by the regulator have been welcomed by analysts who perceive that the move constitutes a further effort by the government to increase capital inflows and mitigate the impact of the US sub-prime crisis on the country's economic growth. Hu Yu, an analyst at United Securities, told Forbes: "We see the authorities continuing to release positive signals to the market. "The approval of new stock funds and special wealth management services is expected to increase market liquidity." # # # About Aranca Aranca is an end-to-end provider of on-demand, investment, business and economic research, and valuation services to global clients. Our unique blend of market knowledge,flexible servicing models, quality assurance standards and offshore operations reward our clients with high quality, scalable, cost-effective research and valuation services. With client facing offices in San Francisco, New York, London, Brussels and Mumbai. syndicate@aranca.com Website: www.aranca.com End
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