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Chinese valve ball stocks end up 0.54% on Tue

Chinese valve ball stocks end up 0.54% on Tue
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Chinese stocks end up 0.54% on TuePublished: 16 Dec 2008 02:10:19 PST

Dec. 16, 2008 (China Knowledge) - Chinese stocks ended higher on Tuesday with the benchmark Shanghai Stock Exchange adding 0.54%.

The Shanghai Composite Index, which covers both A shares and B shares on the Shanghai Stock Exchange, rose 10.64 points to 1975.01 points after fluctuating between 1976.72 and 1907.83 points.

The Shenzhen Component Index on the smaller Shenzhen Stock Exchange rose 2.10% or 148.90 points to 7250.32 points, after touching an intraday low of 6955.19 points.

Gainers in the Shanghai market outnumbered decliners by 568 to 222, while 63 were unchanged. Aggregated turnover on the two bourses was RMB 81.79 billion.

Market heavy weight PetroChina<601857><857><PTR>, the nation's top oil producer, edged down 0.09% to close at RMB 11.10, while Asia's largest oil refiner Sinopec<600028><386><SNP> fell 0.64% to close at RMB 7.88.

China Life Insurance Co<601628><2628><LFC>, the country's largest life insurance company, gained 1.77% to RMB 20.14, while its smaller rival Ping An Insurance (Group) Co<601318><2318> surged 1.19% to RMB 27.30.

China Merchants Bank (CMB)<600036><3968>, the nation's fifth-largest bank by market value, lost 1.07% to RMB 12.97. Bank of China<601988><3988>, the nation's second-largest lender, dropped 0.32% to end at RMB 3.15.

CITIC Securities Co Ltd<600030>, the country's most profitable brokerage, advanced 2.43% to RMB 21.47. Haitong Securities Co Ltd<600837>, a Shanghai-based brokerage, added 10.05% to close at RMB 8.98. Sinolink Securities Co. Ltd<600109> rose 3.91% to RMB 27.12.

China Vanke Co Ltd<000002><200002>, the country's largest publicly traded residential properties developer, gained 5.28% to RMB 7.58. Gemdale Corp<600383>, one of the largest property developers in China, added 5.87% to close at RMB 8.29. COFCO Property (Group) Co Ltd<000031> rose 4.63% to RMB 6.33. Poly Real Estate Group Co Ltd<600048>, China's second-largest developer by market value, went up 7.25% to RMB 18.34.

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