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China's stocks open sharply higher

China's stocks open sharply higher

Write: Bo-Bae [2011-10-12]

China's stocks opened more than 2 percent higher on Tuesday after an arm of China's sovereign wealth fund bought shares in four major Chinese State-owned banks to show support.

The benchmark Shanghai Composite Index gained 2.43 percent to open at 2,401.74.

The Shenzhen Component Index opened 2.42 percent higher at 10,416.61.