Markets

China's stocks rise Monday on RMB exchange rate flexibility announcement

(Xinhua)
Updated: 2010-06-21 16:31

BEIJING - Chinese equities rose on Monday as the Chinese government said over the weekend that it would allow greater flexibility in the yuan's exchange rate.

Related readings:  China's stocks fall Friday  China's stocks close down Monday on weaker global recovery prospects  China's stocks edge up - Friday  China's stocks close down on profit taking - Thursday

The benchmark Shanghai Composite Index gained 2.9 percent to close at 2,586.21.

The Shenzhen Component Index rose 3.44 percent to end at 10,309.61.

Total turnover expanded to 150.77 billion yuan ($22.17 billion) from 145.93 billion yuan on the previous trading day.

Gainers outnumbered losers by 839 to 44 in Shanghai and 928 to 44 in Shenzhen.