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Chinese shares rise for 4th day, driven by metal stocks

(Xinhua)
Updated: 2009-09-04 15:58

Chinese equities edged up on Friday, rising for the fourth trading day, led by metal stocks after prices increased on the global market.

The benchmark Shanghai Composite Index rose 0.58 percent, or 16.59 points, to finish at 2,861.61.

The Shenzhen Component Index advanced 1.01 percent, or 115.63 points, to end at 11,519.68.

Combined turnover increased to 219.46 billion yuan ($32.13) from 213.54 billion yuan on the previous trading day.

Gainers outnumbered losers by 724 to 127 in Shanghai and 628 to 104 in Shenzhen.

Related readings:  Chinese shares surge 4.8% on regulator assurance  Chinese shares edge up after day-earlier plunge  Chinese shares slide 21.8 percent in August  Chinese shares plunge 6.74%, driven by weak energy shares

Metal shares gained after gold prices climbed to $997.20 an ounce, the highest since late February. Shandong Gold Group Co Ltd surged 7.31 percent to 55.47 yuan. Shares of Inner Mongolia Baotou Steel Rare-earth Hi-tech Co Ltd went up 5.5 percent to 25.88 yuan. Henan Yuguang Gold and Lead Co soared its daily 10 percent limit to 18.3 yuan.

Shares of vaccine producers also rose after China approved Thursday the A/H1N1 flu vaccine produced by domestic pharmaceutical company Sinovac, making it the first to get a production license in the global race.

The State Food and Drug Administration (SFDA) issued the license for Sinovac's vaccine, called Panflu, on Thursday, after it passed SFDA's experts evaluation on Aug 31.

Shenzhen Neptunus Bioengineering Co climbed by the daily limit of 10 percent to 9.72 yuan. Sichuan Joint-WIT Medical and Pharmaceutical Industry Co grew the daily 10 percent limit to 20.46 yuan.