By David Pilling in Tokyo and Robert Cookson in London
Friday, November 30, 2007
 
China's benchmark stock index punched back through the psychologically important 5,000-point level yesterday as Asian equities surged in response to a powerful overnight session on Wall Street.

Comments by a senior Federal Reserve official raised hopes for a US interest rate cut next month, unleashing a wave of bullish sentiment which swept across the Pacific.

China's Shanghai Composite rose 4.2 per cent to 5,003.33, disrupting a bear run which had seen the index plunge 21 per cent since its peak in October.


Index heavyweight Petro-China snapped an eight-day losing streak, gaining 2.8 per cent to Rmb33.05.

Airlines were Shanghai's biggest gainers, buoyed by falling oil prices and speculation about merger moves in the industry.

China Eastern Airlines gained its 10 per cent daily limit to Rmb16.04. Its rival Air China also jumped 10 per cent to Rmb24.16 after media reports that it would buy 40 Airbus planes to meet the demand for its European routes.

In Hong Kong, the Hang Seng advanced 4.1 per cent to 28,482.54, while the China Enterprises index rose 4 per cent to 17,014.13. Property developers shone particularly brightly on hopes of a US rate cut. Hong Kong's currency is pegged to the US dollar, so the city's rate cycle tends to track that of the US. Sino Land Holdings shot up 11.1 per cent to HK$27.45.
 

中国基准股指重返5000点之上
英国《金融时报》戴维•皮林(David Pilling)东京、罗伯特•库克森(Robert Cookson)伦敦报道
2007年11月30日 星期五
 
中国基准股指昨日反弹，重新站到5000点的心理关口上方。受美国股市大幅反弹刺激，其它亚洲股市也纷纷飙升。

美联储(Fed)一位高级官员的讲话提升了市场对美国下个月降息的希望，由此释放出的看涨情绪如潮般地横扫亚太地区。

中国上证综合指数大涨4.2%，收于5003.33点，中止了这一波下跌行情。在此轮行情中，股指从10月份的高点已下跌了21%。


指数权重股中石油(Petro-China)结束了连续8天的下跌，上涨2.8%，收于33.05元人民币。

受到石油价格下跌和业内合并传闻的刺激，航空股是上海股市的最大赢家。

中国东方航空(China Eastern Airlines)达到10%的涨停板限制，收于16.04元人民币。其竞争对手中国国航(Air China)也同样涨停，收于24.16元人民币；此前有媒体报道称，国航将购买40架空客飞机，以满足对其欧洲线路的需求。

在香港，恒生指数(Hang Seng)上升4.1%，收于28482.54点；中国企业指数(China Enterprises Index)上涨4%，收于17014.13点。在美国下调利率的预期下，地产开发商的表现尤为突出。港元目前采用“盯住”美元的汇率制度，所以，该地区的利率周期往往跟随美国的周期。信和置业(Sino Land Holdings)飙升11.1%，收于27.45港元。

译者/李碧波