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China Stock Market May Add To Its Winnings

The China stock market on Friday snapped the two-day slide in which it had surrendered nearly 70 points or 2.3 percent. The Shanghai Composite Index now rests just above the 3,020-point plateau and it's got another firm lead again on Monday.

The global forecast for the Asian markets is upbeat on an improved outlook for global trade. The European and U.S. markets were up and the Asian markets are tipped to open in similar fashion.

The SCI finished sharply higher on Friday following gains from the properties, financials and oil and insurance companies.

For the day, the index climbed 31.07 points or 1.04 percent to finish at 3,021.75 after trading between 2,999.43 and 3,048.12. The Shenzhen Composite Index spiked 23.11 points or 1.43 percent to end at 1,641.37.

Among the actives, Gemdale soared 2.26 percent, while Poly Developments surged 4.00 percent, China Vanke advanced 2.22 percent, Industrial and Commercial Bank added 0.18 percent, China Construction Bank climbed 1.15 percent, China Merchants Bank collected 0.70 percent, China Life Insurance jumped 1.30 percent, Ping An Insurance spiked 1.44 percent, PetroChina perked 0.39 percent, China Petroleum and Chemical rose 0.17 percent, China Shenhua Energy was up 0.65 percent and Bank of China was unchanged

The lead from Wall Street is positive as stocks moved gradually higher through the course of Friday's trade, with the NASDAQ and the S&P 500 hitting five-month closing highs.

The Dow added 138.98 points or 0.54 percent to 25,848.87, while the NASDAQ gained 57.62 points or 0.76 percent to 7,688.53 and the S&P 500 rose 14.00 points or 0.50 percent to 2,822.48. For the week, the Dow gained 1.6 percent, the NASDAQ advanced 3.8 percent and the S&P rose 2.9 percent.

The strength on Wall Street came amid optimism on U.S.-China trade talks and indications of Chinese economic stimulus after Chinese Premier Li Keqiang pledged support for the fading economy.

In U.S. economic news, the Federal Reserve said industrial production rose less than expected in February. Also, the New York Fed noted an unexpected slowdown in regional manufacturing growth in March.

Crude oil futures ended slightly lower on Friday, snapping a four-session winning streak, as traders chose to take profits. West Texas Intermediate Crude oil futures for April ended down $0.09 or 0.2 percent at $58.52 a barrel.

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