China stocks up 0.5 pct, end 2009 with 80 pct gain

Published: 30 Dec 2009 23:08:20 PST

SHANGHAI, Dec 31 - China's key stock index rose 0.45 percent on Thursday, ending 2009 with a solid 80 percent gain as one of the world's best performing major markets, riding brightened prospects for economic recovery and corporate earnings.

The Shanghai Composite Index ended at 3,277.139 points, its highest close in more than two weeks.

The index's strong gains this year, contrasting with a 65 percent tumble last year when it was battered by the financial crisis and fallout from a price bubble, is in line with a rally across Asia where the MSCI index of Asia Pacific stocks traded outside Japan has risen nearly 70 percent for the year.

Gaining Shanghai A shares outnumbered losers by 669 to 186, while turnover sank to 139 billion yuan ($20.36 billion) from Wednesday's already low 157 billion yuan in thin pre-holiday trade.

The market will be closed on New Year's Day. ($1=6.827 Yuan)