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Market Update : 
Weekly Gains in HK and Shanghai
Author: 123jump.com Staff
123jump.com
Last Update: 2:58 PM EDT April 25 2008

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Stocks in Hong Kong edged lower today but surged 5.5% for the week. In Shanghai trading stocks rose 0.8% and for the week soared 16%. The reduction in stamp duty on trading in China lifted stocks for the second day in a row. Citic Securities, Haitong Securities and China Vanke led gainers in the CSI 300 index. Air China gained 4% after it reported 147% rise in earnings. Yunnan Copper full year profit declined 47% in 2007. Bao Steel is looking to raise $8.5 in international offering.

 
Ping An Insurance fell 1.58%, while China Life was relatively flat ahead of its earnings results.
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