Chinese shares gain slightly after three days' drop

14:21, October 01, 2009      

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Chinese equities edged up Wednesday, rising for the first time in four consecutive trading days, driven by non-ferrous metals and coal miner stocks.

The benchmark Shanghai Composite Index grew 24.89 points, or 0.9 percent, to end at 2,779.43.

The Shenzhen Component Index gained 137.57 points, or 1.24 percent to close at 11,206.85.

Combined turnover shrank for the seven consecutive trading day to 108.18 billion yuan (15.84 billion U.S. dollars) from 117.5 billion yuan on the previous trading day.

Gainers outnumbered losers by 651 to 188 in Shanghai and 606 to147 in Shenzhen.

Non-ferrous metal manufacturers gained on rising prices. The Aluminum Corp. of China Ltd. (Chalco) gained 3.07 percent to 12.76yuan after it raised its alumina spot price by 3.9 percent to 2,650 yuan per ton.

Henan Yuguang Gold and Lead Co., Ltd. surged 5.26 percent to 19.4 yuan. Yunnan Chihong Zinc and Germanium Co., Ltd. climbed 8.28 percent to 26.15 yuan.

Shares of coal miners also rose as investors bet on an increase in demand in winter. China Shenhua, the nation's biggest coal producer, added 1.4 percent to 30.36 yuan, with the sector up 1.81 percent. Yanzhou Coal Mining Company Ltd. was up 2.19 percent to 16.36 yuan.

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