Chinese stocks extended their winning run to a fourth session yesterday as hopes of looser monetary policy continued to grip the market.

　　隨著放松貨幣政策的希望繼續(xù)主導(dǎo)市場(chǎng)，中國(guó)股市昨天連續(xù)第四個(gè)交易日上漲。

　　The Shanghai Composite index rose 1.1 per cent to 2,562.41, the highest since June 24. It has gained 5.7 per cent so far this week.

　　上證綜合指數(shù)上漲1.1%，至2562.41點(diǎn)，是自6月24日以來(lái)的最高點(diǎn)。本周迄今，該指數(shù)已上漲了5.7%。

　　Signs of slowing growth and relatively muted inflation have fuelled hopes that some of the policy tightening introduced earlier this year might be unwound.

　　有跡象表明，增長(zhǎng)率放緩，且通貨膨脹相對(duì)溫和，已激起市場(chǎng)的希望，即今年早些時(shí)候推出的一些政策收緊可能被放松。

　　Deutsche Bank said that while no big policy relaxation was likely in the third quarter of the year, the fourth quarter could see some moves.

　　德意志銀行(Deutsche Bank)表示，雖然今年第三季不太可能有重大的政策放松，但第四季可能見(jiàn)到一些動(dòng)作。

　　Jun Ma, economist at the bank, said: “By then, senior officials will likely publicly discuss the need to relax policies to guard against the risk of a ‘second dip', and the government may begin to relax a few real estate policies and to signal the intention to reaccelerate public spending.”

　　該行經(jīng)濟(jì)學(xué)家馬駿表示：“到那時(shí)，高官們將有可能公開(kāi)討論通過(guò)放松政策來(lái)避免‘二次衰退'風(fēng)險(xiǎn)的必要性，且政府可能開(kāi)始放松一些房地產(chǎn)政策，并發(fā)出信號(hào)表示，有意重新加速公共支出。”

　　Real estate shares led the market's advance yesterday on reports that a planned property tax would be levied in 2012, later than expected. The real estate sub-index rose 2.1 per cent, with Gemdale rising 2.4 per cent to Rmb6.85. In Shenzhen, China Vankeclimbed 2.6 per cent to Rmb7.95.

　　房地產(chǎn)股昨引領(lǐng)市場(chǎng)上漲，因有報(bào)告表示，計(jì)劃中的物業(yè)稅將在2012年開(kāi)征，晚于預(yù)期。房地產(chǎn)分類(lèi)指數(shù)上漲了2.1%，金地集團(tuán)(Gemdale)上漲2.4%，至6.85元。在深圳市場(chǎng)上，中國(guó)萬(wàn)科(China Vanke)上漲了2.6%，至7.95元。

　　The gains on the mainland helped Hong Kong reverse early losses, and the Hang Seng index finished 0.5 per cent higher at 20,589.70.

　　內(nèi)地市場(chǎng)的上漲，幫助香港市場(chǎng)收復(fù)了早盤(pán)的失地，恒生指數(shù)上漲0.5%，報(bào)收于20589.70點(diǎn)。

　　Steel stocks continued to advance after news that mainland steel prices had risen this week. Angang Steel gained 2.2 per cent to HK$11.96, taking its weekly rise to 16 per cent.

　　鋼鐵股繼續(xù)上揚(yáng)，之前有新聞表示，本周內(nèi)地鋼價(jià)已上升。鞍鋼股份(Angang Steel)上漲了2.2%，至11.96港元，令周漲幅達(dá)到了16%。