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討論通過放松政策來避免‘二次衰退'風(fēng)險(xiǎn)的必要性，且政府可能開始放松一些房地產(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年開征，晚于預(yù)期。房地產(chǎn)分類指數(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%。