Gold and metals strengthen market | Shanghai Daily

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Gold and metals strengthen market

SHANGHAI'S key stock index ended slightly higher today, led by gold and metal producers.

The benchmark Shanghai Composite Index rose 0.11 percent, or 3.02 points, to close at 2,724.30 points, the highest level in 10 months. Gainers outnumbered losers 462 to 386 while 24 remained unchanged. Turnover further rose to 161.53 billion yuan (US$23.75 billion) from 156.58 billion yuan on the previous trading day.

The Shenzhen Composite Index, which tracks the smaller domestic market, was up 0.73 percent to close at 907.50 points.

Zijin Mining Group jumped 5.2 percent to 9.92 yuan. Shandong Gold Mining Co increased 2.1 percent to 49.98 yuan. Minmetals Development Co advanced 2.65 percent to 17.84 yuan. Jiangxi Copper Co added 0.16 percent to 31.14 yuan.

Property developers had mixed performances. Gemdale Corp, a Chinese partner of ING Group NV, climbed 4.86 percent to 13.82 yuan. Poly Real Estate Group Co, China's second-largest developer by market value, surged 2.88 percent to 23.25 yuan while Shanghai-based Shimao Property Co dropped 1.1 percent to 14.33 yuan.

Weak performances by lenders bucked the upward trend. Shanghai Pudong Development Bank Co retreated 1.25 percent to 16.12 yuan. Bank of China withdrew 1.09 percent to 3.63 yuan. Bank of Communications Co inched down 0.96 percent to 7.22 yuan.



 

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