Chinese stocks up 0.46% on Wed

Nov. 4, 2009 (China Knowledge) - Chinese stocks ended higher on Wednesday, with bank and gold stocks leading the gains.

The benchmark Shanghai Composite Index, which covers both A shares and B shares on the Shanghai Stock Exchange, edged up 0.46% or 14.31 points and closed at 3,128.54 points after fluctuating between 3,141.45 and 3,096.35 points.

The Shenzhen Component Index on the smaller Shenzhen Stock Exchange rose 0.55% or 71.35 points to 12,931.21 points, after touching an intraday low of 12,772.8 points.

Gainers in the Shanghai market outnumbered decliners 514 to 291, while 53 were unchanged. Aggregated turnover on the two bourses was RMB 280.75 billion.

Bank stocks ended higher. China Merchants Bank<600036><3968> increased 0.53% to RMB 18.91. Shanghai Pudong Development Bank<600000> grew 2.16% to RMB 23.67.

Share prices of securities firms ended higher. Haitong Securities Co<600837>, China's second largest broker in terms of assets, rose 1.02% to RMB 14.87. Changjiang Securities Co Ltd<000783> swelled 4.1% to RMB 20.81.

Nonferrous metal firms were gainers. Aluminum Corp of China Ltd<601600><2600><ACH>, the nation's largest aluminum producer, grew 3.96% to RMB 14.7. Ji Lin Ji En Nickel Industry Co Ltd<600432> rose 1.04% to RMB 32.12.

Gold firms were among the winners. Zhongjin Gold Corp Ltd<600489>, China's biggest publicly traded gold miner by market share, increased 1.78% to RMB 59.34. Shandong Gold Mining Co<600547>, China's second-largest listed gold miner, rose 2.11% to RMB 69.79.

The pharmaceutical sector performed well. Guangzhou Pharmaceutical Company Ltd<600332><0874> rose 2.2% to RMB 9.75. Southwest Pharmaceutical Co Ltd<600666> grew 1.33% to RMB 10.68.

ChiNext stocks also ended higher. Beijing Ultrapower Software Co Ltd<300002> grew 4.08% to stand at RMB 100.11. Huayi Brothers Media Co Ltd<300027> increased 0.76% to RMB 58.51.