China stocks rose feb 17 2012

Indonesia stock info - China stocks rose feb 17 2012 ; China’s stocks rose, driving the benchmark index toward the longest weekly gains in 15 months, as fewer U.S. jobless claims and speculation Greece will secure a second European debt bailout bolstered the outlook for China’s two biggest export markets.

Industrial & Commercial Bank of China Ltd. and China Construction Bank Corp. led an advance for lenders on the prospect cheaper borrowing costs will help spur loans as banks lent money to one another at the lowest interest rates in eight months. China Life Insurance Co. (LFC), the biggest insurer, gained 1.7 percent after premium income rose 12 percent in January.

“The global economy isn’t as bad as some people had feared, which is good for China and Chinese companies,” Jeff Papp, a senior analyst in Lisle, Illinois, at Oberweis Asset Management Inc., which manages $700 million including Chinese stocks, said by phone yesterday. “Most people still expect China’s central bank will do more easing as the government has shifted to a more accommodative mode in supporting growth.”

The Shanghai Composite Index (SHCOMP) rose 8.20 points, or 0.4 percent, to 2,365.06 as of 9:42 a.m. local time. The CSI 300 Index added 0.6 percent to 2,550.74. The Bloomberg China-US 55 Index, the measure of the most-traded U.S.-listed Chinese companies, added 1.5 percent yesterday in New York.

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