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Shares edge up on recovering confidence

(Xinhua)
Updated: 2008-08-28 16:28

Chinese shares edged up on Thursday, comforted by words the country's top market regulator is considering to cut or cancel the stock dividend tax.

The Shanghai Composite Index was up eight points, or 0.34 percent, to  close at 2,350.14. In Shenzhen, the market fell 0.13 percent, or 10.11 points, to close at 7,817.05.

Aggregate turnover reached 43.4 billion yuan ($6.31 billion), slightly lower than 47.2 billion yuan on Wednesday.

Nearly half of the stocks dropped on the two bourses. In Shanghai, 380 stocks rose while 401 fell; in Shenzhen, 351 issues rose while 296 fell.