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Chinese shares rise led by metal and electricity producers
(Xinhua)
Updated: 2009-07-31 16:48 China's stocks continue to pose strong advance on Friday, offsetting Wednesday's five percent plunge, led by metal and electricity producers. The benchmark Shanghai Composite Index rose 2.72 percent, or 90.50 points, to finish at 3,412.06. The Shenzhen Component Index gained 3.00 percent, or 398.19 points, to end at 13,670.72. Combined turnover stood at 336.7 billion yuan ($49.3 billion), slightly down from 337 billion yuan in the previous trading day. Gainers in Shanghai outnumbered losers by 844 to 28 and by 733 to 21 in Shenzhen. Metal shares advanced across the board, boosting the index's rise, after metal prices including copper, zinc and aluminum lifted more than 4 percent at the Shanghai Futures Exchange. Jiangxi Copper Co rose by the daily limit of 10 percent to close at 48.04 yuan. Yunnan Copper Co also rose by the limit to 35.51 yuan. Shares of electricity producers helped lead the gains after Datang International Power Generation Co reported more than 50 percent growth in its half-year net profits from a year earlier when they registered a net profits of 419 million yuan. Datang International Power Generation Co climbed 9.98 percent to 10.47 yuan. Huadian Power International Corporation rose by the daily limit of 10 percent to end at 6.24 yuan.
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