Chinese stocks up 0.61% at midday

Nov. 6, 2009 (China Knowledge) - Chinese stocks ended higher in the morning trading session on Friday, with financial stocks leading the gains.

The Shanghai Composite Index, which covers both A shares and B shares on the Shanghai Stock Exchange, edged up 0.61% or 19.35 points and closed at 3,174.4 points in the morning session.

The Shenzhen Component Index on the smaller Shenzhen Stock Exchange decreased 0.79% or 101.7 points to stand at 13,003.41 points.

Financial stocks ended higher. China CITIC Bank Corp Ltd<601998><0998> increased 2.49% to close at RMB 6.58. Haitong Securities Co<600837>, China's second largest broker in terms of assets, rose 0.4% to RMB 14.95.

Insurers were among the winners. Ping An Insurance (Group) Co<601318><2318> grew 1.2% to close at RMB 60.69.

Shipping stocks also ended higher. China State Shipbuilding Co<600150>, the country's largest shipbuilder, jumped 9.39% to RMB 82.7. Guangzhou Shipyard International Co<600685><0317> swelled 7.77% to RMB 29.

Cement firms were also among the winners. Hebei Taihang Cement Co Ltd<600553> surged by the daily limit of 10.03% to RMB 11.19.