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[mcmike]

Chinese stocks in Shanghai, Hong Kong Kong soar

By V. Phani Kumar
Last update: 10:07 p.m. EDT Sept. 18, 2008

Chinese stocks in Shanghai and Hong Kong soared Friday after the mainland government announced plans to buy shares of listed companies and canceled a tax on securities purchases. China's Shanghai Composite skyrocketed 9.2% to 2,070.57. In Hong Kong, the Hang Seng Index climbed 7.1% to 18,875.09, while the Hang Seng China Enterprises Index surged 9.9% to 9,489.18.