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Chinese shares rise to one-month high

(Xinhua)
Updated: 2009-09-15 17:43

BEIJING: Chinese equities edged up Tuesday, rising for the third consecutive days to a one-month high, driven by non-ferrous metal stocks.

The benchmark Shanghai Composite Index gained 0.23 percent, or 6.99 points to finish at 3,033.73. The Shenzhen Component Index edged up 0.43 percent, or 53.18 points, to end at 12,438.24.

Related readings:  Chinese shares fall after 7 days of rise  Chinese shares rise for seventh day  Shares edge up on economic optimism  Chinese shares rise 1.71% on Tuesday  Chinese shares rise for 4th day, driven by metal stocks

Aggregate turnover slightly shrank to 253.84 billion yuan ($37.17 billion) from 256.37 billion yuan on the previous trading day.

Gainers outnumbered losers by 535 to 305 in Shanghai and 484 to 244 in Shenzhen.

Shares of the non-ferrous metal producers gained on rising prices. The Aluminum Corp. of China Ltd. (Chalco) gained 4.5 percent to 15.1 yuan. Henan Yuguang Gold and Lead Co., Ltd. surged by the daily limit of 10 percent to 23.97 yuan. Henan Zhongfu Industry Co., Ltd. also rose by the daily 10 percent limit to 22.19 yuan.

Shares of tyre makers gained despite of the US government's decision to impose a special tariff on tyre imports from China. Double Coin Holdings Ltd. soared by its daily 10 percent limit to 20.91 yuan after the company said the tyre tariff case would not affect its second-half profit.

Guizhou Tyre Co. climbed 4.41 percent to 15.61 yuan after it announced the case would not hurt profits as the case-involved products only accounted for 1.56 percent of its turnover in the first seven months this year.

Aeolus Tyre Co. was up 3.5 percent to 13.29 yuan.