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Chinese stocks close higher for third straight day, led by steel, cement
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20:16, September 14, 2007

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Chinese stocks closed slightly higher for a third straight day on Friday led by steel and cement.

The benchmark Shanghai Composite Index on the major Shanghai Stock Exchange rose 0.73 percent, or 38.59 points to end at 5,312.18. The Shenzhen Component Index on the smaller Shenzhen Stock Exchange rose 1.42 percent, or 561.1 points to close at 17,959.51.

Steel makers performed well with the Baosteel Group rising 6.39 percent to close at 19.8 yuan and Hansteel Group up 2.57 percent to end at 8.78 yuan.

Both Hubei-based Huaxin Cement and Anhui-based Conch Cement rose to the 10-percent daily limit.

Combined turnover of the two bourses stood at 233.4 billion yuan (30.7 billion U.S. dollars), compared to 216.8 billion yuan on Thursday.

Source: Xinhua

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