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Chinese shares up 3.97% on denial of IPO rumour
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Chinese shares went up 3.97 percent on Friday as the country's Securities Regulatory Commission denied the market talk that initial public offerings (IPO) will be re-launched.

The Shanghai A-share index rose 83.22 points, or 3.97 percent, to close at 2,181.24, while the Shenzhen Component Index gained 358.48 points, or 4.84 percent, to finish at 7,771.90.

The market talk that China will allow companies to raise money from the market through new IPO has sparked sell-off in the the previous trading day.

Combined turnover was 189.6 billion yuan (US$27.9 billion), roughly the same as that on Thursday.

(Xinhua News Agency February 6, 2009)
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