Reply #11: China shares end up 1.6 pct on banks, property

[Ghost Dog]

http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20061109:MTFH40322_2006-11-09_09-11-39_SHA346130&type=comktNews&rpc=44

SHANGHAI, Nov 9 (Reuters) - Chinese shares ended up 1.59 percent at a new five-year high on Thursday, with banks and property stocks strong on the back of the yuan hitting fresh post-revaluation highs.

The benchmark Shanghai composite index <.SSEC> was up only 0.35 percent at midday but rose sharply in the afternoon to finish at 1,896.482 points, after touching an intra-day peak of 1,899.097, the highest level since late August 2001.

Turnover in Shanghai A-shares was an active 25.4 billion yuan ($3.2 billion), up from 21.8 billion yuan on Wednesday.

The yuan <CNY=CFXS> hit another post-revaluation high of 7.8649 against the dollar on Thursday. This, combined with China's record October trade surplus announced late on Wednesday and the U.S. election results, brought the yuan appreciation theme back into play.

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