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Stocks advance in morning on overseas rallies
SHANGHAI S key stock index rose in the morning session taking cue from rallies in the overseas market on hopes that measures will be taken to relieve the European debt crisis The Shanghai Composite Index rose 0 55 percent to 2 396 04 points Turnover was 27 2 billion yuan US$4 3 billion Sentiment improved on hopes of an easing crisis in the European Union China s largest trading partner German Finance Minister Wolfgang Schaeuble urged a fast-tracking of treaty changes to tighten budget discipline while guidelines that finance ministers will discuss this week showed that Europe s rescue fund may insure bonds of debt-stricken countries with guarantees of 20 percent to 30 percent.
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