China's stocks open higher over Wall Street gains
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Xinhua, August 10, 2011
China's stocks rebounded in Wednesday's opening, tracking gains on Wall Street and in Europe overnight.
The benchmark Shanghai Composite Index rose 1.44 percent to open at 2,562.39. The Shenzhen Component Index opened 1.8 percent higher at 11,519.31.
The U.S. Federal Reserve has announced it would keep its near-zero interest rates for two years. Global markets recovered Tuesday with the Dow Jones Industrial Average rising 430 points, or 3.98 percent, to close at 11,239.77 and European shares also rebounded after falling six percent.
The global financial market rattled on Monday after rating agency Standard & Poor's downgraded U.S. credit rating from AAA to AA+ on Friday. The U.S. stocks experienced a free-fall overnight, with the Dow Jones industrial average lost 634.76 points, or 5.55 percent, to 10,809.85.
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