Wen's Remarks Lift Key Index


SHANGHAI'S stock index yesterday rose to the highest in two-and-a-half months after Premier Wen Jiabao said China will play a bigger part to bail Europe out of its debt crisis.

The Shanghai Composite Index snapped a two-day losing trend and added 0.94 percent to close at 2,366.7, the highest since December 1.

At a press conference on Tuesday with European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso, Wen stressed China's role in stabilizing a debt-ridden Europe, which is China's biggest export market and source of imported technologies.

He said China welcomed the increase of International Monetary Fund resources and using the European Financial Stability Facility and the European Stability Mechanism to solve the crisis.

COSCO Shipping Co, a unit of China's largest operator of dry bulk cargo ships, surged 6.9 percent to 4.79 yuan (76 US cents). China Shipping Development rose 3.8 percent to 6.53 yuan.

Jiangxi Copper Co, China's biggest producer of the metal, climbed 1.6 percent to finish at 26.78 yuan.

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