Banner Year for China Stocks – AP

From AP via CNNMoney.com:

China’s stock market wound up a stellar – and turbulent – year Friday, with its benchmark Shanghai Composite index having soared nearly 97 percent, making it the world’s best-performing major stock index in 2007.

But worries that authorities will raise interest rates or take other steps to cool the country’s blazing growth caused the market to drop slightly in Friday’s trading, with the Shanghai index falling 0.9 percent to 5,261.56 points. The Shenzhen Composite Index for China’s second, smaller market dipped 0.4 percent to 1,447.02. News of the assassination of Pakistani opposition leader Benazir Bhutto – which heightened concerns about instability in Pakistan and the surrounding region – also gave investors an excuse to take profits, traders said. [Full Text]

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