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A shares rebound

(China Daily)
Updated: 2007-03-16 09:45

China's stocks rose yesterday, rebounding from Wednesday's decline, on expectations the expansion of the country's fund industry will boost shares.

The Shanghai Composite Index, the mainland's main stock index, climbed 1.56 percent to 2951.70. A total of 684 companies gained in the Shanghai A-share market, while 94 saw losses.

Ping An Insurance (Group) Co, China's second-biggest insurer, gained 0.04 percent to 44.96 yuan. The company said profit for 2006 increased more than 50 percent from a year earlier.