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Shares surge 7.8% on easier buy-back rules

(Xinhua)
Updated: 2008-09-22 17:01

Chinese share price jumped for a second day on Monday as investor confidence got further boosted by news including the US massive rescue plan and easing rules on shares buy-back.

The benchmark Shanghai Composite Index finished up 161.32 points, or 7.77 percent, at 2,236.41, extending the 9.45 percent gain on Friday.

The Shenzhen Component Index gained 315.07 points, or 4.40 percent, to 7,469.07.

The US Treasury over the weekend proposed buying up $700 billion of mortgage-related securities amid the latest efforts to stem the financial crisis.