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Chinese shares closed 0.56% higher, led by financial and energy caps
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16:45, April 02, 2008

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Chinese shares ended 0.56 percent higher on Wednesday, boosted by financial and energy heavyweights.

The benchmark Shanghai Composite Index on the Shanghai Stock Exchange closed at 3,347.88 points, up 0.56 percent, with an intra-day high of 3464.53 points, after more than 200 stocks falling by their daily limit of 10 percent on Tuesday.

Financial shares' strong rebound boosted the index up, with China Life surging 8.65 percent to 30.40 yuan (4.32 U.S. dollars) and the Industrial and Commercial Bank of China rising 3.33 percent to 6.20 yuan.

Energy caps also contributed to the upward movement. Sinopec gained 3.68 percent to 12.11 yuan and China Shenhua Energy climbed2.59 percent to 41.14 yuan.

The Shenzhen Component Index on the Shenzhen Stock Exchange ended at 12,344.24 points, down 0.93 percent, over the previous trading day.


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