Chinese stocks up 1.2% on Fri

Oct. 30, 2009 (China Knowledge) - Chinese stocks ended higher on Friday, led by market heavyweights and ChiNext stocks.

The benchmark Shanghai Composite Index, which covers both A shares and B shares on the Shanghai Stock Exchange, increased 1.2% or 35.38 points to close at 2,995.85 points after fluctuating between 3,027.13 and 2,983.93 points. 

The Shenzhen Component Index on the smaller Shenzhen Stock Exchange rose 0.85% or 104 points to 12,297.16 points, after touching an intraday low of 12,294.19 points.

Gainers in the Shanghai market outnumbered decliners 668 to 142, while 67 were unchanged. Aggregated turnover on the two bourses was RMB 217.03 billion.

Market heavyweight PetroChina<601857><0857><PTR>, the nation's top oil producer, increased 1.29% to close at RMB 13.31, while Asia's largest oil refiner, Sinopec<600028><0386><SNP>, rose 1.13% to RMB 11.59.

Energy stocks ended higher. Sichuan Datong Gas Development Co Ltd<000593> surged by the daily limit of 9.97% to RMB 8.05. Shanxi Lu'an Environmental Energy Development Co Ltd<601699> rose 2.4% to RMB 46.

The pharmaceutical sector performed well. Shandong Lukang Pharmaceutical Co Ltd<600789> swelled 4.96% to RMB 5.71. Southwest Pharmaceutical Co Ltd<600666> grew 5.06% to RMB 9.55.

Bank stocks were among winners as they posted sound net profit in quarterly results. China Merchants Bank<600036><3968> swelled 4.16% to RMB 17.77. Industrial and Commercial Bank of China<601398><1398>, the world's largest lender by market value, grew 2.22% to RMB 5.06.

ChiNext stocks all soared. Chengdu Geeya Technology Co Ltd<300028> skyrocketed 209.73% to RMB 35. Tianjin Chase Sun Pharmaceutical Co Ltd<300026> jumped 77.5% to RMB 106.5.