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China Stock Market Has A Green Light For Thursday's Trade

The China stock market has moved higher in two of three trading days since the end of the four-day losing streak in which it had stumbled almost 60 points or 1.7 percent. The Shanghai Composite Index now rests just beneath the 3,600-point plateau and it may add to its winnings on Thursday.

The global forecast for the Asian markets is positive, primarily riding a surge in crude oil prices. The European and U.S. markets was modest gains and the Asian bourses figure to follow suit.

The SCI finished modestly higher on Wednesday as gains from the resource stocks and energy companies were capped by weakness from the financials and properties.

For the day, the index advanced 29.99 points or 0.84 percent to finish at 3,597.43 after trading between 3,572.10 and 3,599.50. The Shenzhen Composite Index jumped 34.59 points or 1.42 percent to end at 2,475.82.

Among the actives, Industrial and Commercial Bank of China shed 0.63 percent, while Bank of China lost 0.64 percent, China Construction Bank dropped 0.98 percent, China Life Insurance dipped 0.20 percent, China Merchants Bank eased 0.18 percent, Bank of Communications fell 0.42 percent, Jiangxi Copper soared 2.48 percent, Aluminum Corporation of China (Chalco) rose 0.32 percent, Yankuang Energy added 0.44 percent, China Petroleum & Chemical improved 0.47 percent, Anhui Conch Cement plunged 4.26 percent, Huaneng Power increased 0.65 percent, PetroChina perked 1.72 percent, China Shenhua Energy gathered 0.57 percent, Gemdale retreated 1.58 percent, Poly Developments sank 0.99 percent, China Vanke skidded 1.12 percent, China Fortune Land declined 1.60 percent and Beijing Capital jumped 1.15 percent.

The lead from Wall Street is upbeat as the major averages opened higher on Wednesday, faded soon after but rebounded enough to end in the green.

The Dow added 38.30 points or 0.11 percent to finish at 36,290.32, while the NASDAQ gained 34.94 points or 0.23 percent to close at 15,188.39 and the S&P 500 rose 13.28 points or 0.28 percent to end at 4,726.35.

The modest strength on Wall Street followed the Labor Department's highly anticipated report on consumer price inflation in December. While the report showed the annual rate of consumer price growth once again reached the highest level in almost 40 years, traders seemed relieved the acceleration was not even more significant.

Treasury yields moved to the downside following the release of the report, offsetting some of the interest rate concerns that dragged the markets lower to start the year.

Crude oil prices spiked again on Wednesday, extending gains from the previous session. Oil prices continued to benefit from optimism about the outlook for energy demand amid indications of tight near-term supply. West Texas Intermediate crude for February delivery jumped $1.42 or 1.7 percent to $82.64 a barrel.

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