Business news for Fri, 21 Dec 2007 & with words stocks+world. 2 news.

DOMESTIC stocks rose for a third day today, powered by insurers after the central bank raised interest rates, boosting returns on their fixed-income investments. The Shanghai Composite Index, which tracks yuan-denominated A shares and hard-currency B shares, jumped 1.15 percent, or 58.24 points, to close at 5,101.78 at 3pm today. The index edged up 9.91 points this week as it opened at 5,007.29 at 9:30am on Monday. Gainers in the Shanghai market outnumbered losers 671 to 84 while 91 were unchanged. The Shenzhen Composite Index, which covers the smaller mainland stock market, gained 1.36 percent, or 18.5 points, to 1,375.89. China raised interest rates for a sixth time this year to cool decade-high inflation in the world's fastest-growing major economy. The benchmark one-year lending rate will increase to 7.47 percent, a nine-year high, from 7.29 percent, starting today, the People's Bank of China said yesterday. The one-year deposit rate will rise to 4.14 percent from 3.87

DOMESTIC stocks edged up in the morning session today, encouraged by insurance firms after the central bank raised interest rates, boosting returns on their fixed-income investments. The Shanghai Composite Index, which tracks yuan-denominated A shares and hard-currency B shares, jumped 0.32 percent, or 15.89 points, to 5,059.43 at 11:30am today. Gainers in the Shanghai market outnumbered losers 392 to 364 while 90 were unchanged. The Shenzhen Composite Index, which covers the smaller mainland stock market, gained 0.32 percent, or 4.29 points, to 1,361.68. China raised interest rates for a sixth time this year to cool decade-high inflation in the world's fastest-growing major economy. The benchmark one-year lending rate will increase to 7.47 percent, a nine-year high, from 7.29 percent, starting today, the People's Bank of China said yesterday. The one-year deposit rate will rise to 4.14 percent from 3.87 percent. Insurers benefit from the rate increase by using new premiums