Chinese stocks up 0.1% at midday

Nov. 23, 2009 (China Knowledge) - Chinese stocks ended slightly higher in the morning trading session on Monday, led by the military industry stocks.

The Shanghai Composite Index, which covers both A shares and B shares on the Shanghai Stock Exchange, edged up 0.1% or 3.22 points and closed at 3,311.57 points in the morning session.

The Shenzhen Component Index on the smaller Shenzhen Stock Exchange gained 0.16% or 21.4 points to stand at 13,716.55 points.

Shanghai Aero Auto Electromechanical Co Ltd<600151> rose 6.85% to RMB 13.89. Hafei Aviation Industry Co Ltd<600038> increased 6.42% to RMB 20.56. Jiangxi Hongdu Aviation Industry Co Ltd<600316> added 4.47% to RMB 37.2.

Market heavyweight PetroChina<601857><0857><PTR>, the nation's top oil producer, ended flat at RMB 14.03, while Asia's largest oil refiner, Sinopec<600028><0386><SNP> edged up 0.4% to RMB 12.58.

Bank stocks ended mixed in the morning trading session. Industrial and Commercial Bank of China<601398><1398>, the world's largest lender by market value, dropped 0.55% to RMB 5.45. Bank of Communications Co Ltd<601328><3328> added 0.11 % to RMB 9.14. China Merchants Bank<600036><3968> was up 0.16% to RMB 18.43.

China Life Insurance Co<601628><2628><LFC>, the country's largest life insurance company, edged up 0.13% to RMB 32.04, while Ping An Insurance (Group) Co<601318><2318>, China's second-largest insurer, shrank 1.53% to RMB 59.69.