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China stocks rally due to heavyweights


08:59, November 22, 2012

BEIJING, Nov. 21 (Xinhua) -- Chinese stocks rallied on Wednesday afternoon with securities, coal and property shares reversing a downward trend in earlier trading.

The benchmark Shanghai Composite Index moved up 1.07 percent, or 21.4 points, to 2,030.32, while the Shenzhen Component Index closed at 8,150.84, up 98.05 points, or 1.22 percent.

Combined turnover on the two bourses rose to 79.9 billion yuan (12.68 billion U.S. dollars) from 67.05 billion yuan in the previous trading day.

A majority of shares climbed, with gainers outnumbering losers by 855 to 107 in Shanghai and by 1,264 to 235 in Shenzhen.

The Shanghai stock index hit a record low during the day's trading, at 1999.17. However, it was later rescued by strong performances in securities, coal and property.

Securities shares were the biggest gainers, boosted by China Securities Regulatory Commission's recent move to unlock more capital in the sector.

Sinolink Securities rose 4.02 percent to end the day at 15.77 yuan per share, while Everbright Securities went up 3.77 percent to 11.57 yuan.

Stocks of coal rose across the board as statistics from the National Development and Reform Commission showed China's net imports surged 39.5 percent year-on-year to 217 million tonnes in the first ten months of 2012.

Wintime Energy Co. moved up 5.85 percent to 8.14 yuan.

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