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Positive data drive Chinese shares open higher

(Xinhua)
Updated: 2009-11-12 10:15

Chinese equities opened higher on Thursday, echoing the overnight Wall Street gains and buoyed by a wave of positive Chinese economic data released Wednesday.

The Shanghai Composite Index rose 0.2 percent to open at 3,181.46 points. The Shenzhen Component Index added 0.22 percent to open at 13,135.91 points.

Related readings:  Chinese shares end slightly lower  Strong data shows recovery is on track  Wall St hits year highs on China economic data

China's industrial output, investment and retail sales picked up pace in October, while the export slump pace slowed, showing stronger revival signs, according to figures released by the National Bureau of Statistics Wednesday.

Most of the auto shares rose at the opening, as a industry development guidance policy released Wednesday by China's Ministry of Commerce and other governmental agencies showed the country was endeavoring to promote its automobile and spare parts exports to $85 billion by 2015.