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China: How Long Will the Inflation Respite Last?
Posted on May 07, 2008
The Chinese stock market started the day well, with the SSE Composite starting below yesterday s close but quickly trading up to 3767 within the first hour of the morning a hefty 2.3% jump from yesterday s close. But investors quickly lost heart, and the market subsequently gave up nearly 200 points from its peak today to close down at 3578, for a very ugly 4.11% loss for the day, with banks, real estate-related companies, and Olympics-related companies leading the way down. The steepest declines took place in the last 90 minutes of trading, when a slew of selling orders ran up again...
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