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Chinese shares edge up 0.68%, led by nonferrous and petroleum

(Xinhua)
Updated: 2009-03-20 16:06

Chinese equities rose 0.68 percent on Friday, led by nonferrous and petroleum shares.

The benchmark Shanghai Composite Index added 0.68 percent, or 15.33 points, to 2,281.09. The Shenzhen Component Index rose 0.29 percent, or 25.04 points, to 8,647.51.

Gains outnumbered losses by 286 to 527 in Shanghai and 211 to 474 in Shenzhen.

Combined turnover was 205 billion yuan ($30 billion), up from 201.7 billion yuan on the previous trading day.

Rising non-ferrous, oil and petroleum shares rose as prices of such kind of commodities surged in the world futures markets, dealers said.

PetroChina, which accounts for one quarter of the market volume, gained 4.80 percent to close at 11.57 yuan. Sinopec, Asia's biggest oil refiner, advanced 2.33 percent to 8.77 yuan.

Investor's expectations over rising gold prices continued to push up gold miners' stock prices.

Zijin Mining, China's largest gold producer, added 9.97 percent to 9.93. Zhongjin Gold Corp, the country's second largest bullion producer, jumped by a daily limit of 10 percent to 57.38 yuan.

Other non-ferrous shares also had a good performance. China Aluminum, the country's leading aluminum producer, gained 4.67 percent to 10.98. Jiangxi Copper rose 10 percent to 22.33 yuan.