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China stocks rebound on cement, property rally


09:23, December 01, 2012

BEIJING, Nov. 30 (Xinhua) -- Chinese shares rebounded after four days of decline on Friday, supported by a rally of cement and real estate stocks.

The benchmark Shanghai Composite Index climbed 0.85 percent, or 16.63 points, to end at 1,980.12.

Despite the rebound on the last trading day of November, the Shanghai index still lost 4.29 percent this month.

The Shenzhen Component Index closed at 7,903.25, up 1.21 percent, or 94.29 points.

Combined turnover on the two bourses expanded to 70.37 billion yuan (11.17 billion U.S. dollars) from 65.4 billion yuan the previous trading day.

Gainers outnumbered losers by 862 to 95 in Shanghai and by 1,306 to 175 in Shenzhen.

The cement and real estate sectors led the uptick, with their indices rising 4.34 percent and 3.45 percent, respectively.

Shares of Henan Tongli Cement Co., Ltd. surged by the daily limit of 10 percent to close at 10 yuan. Jiangxi Wannianqing Cement Co., Ltd. gained 6.05 percent to 10.35 yuan.

Property developers Vanfund Real Estate Co., Ltd. and Tianjin Songjiang Co., Ltd. also climbed by 10 percent, reaching 6.33 yuan and 4.13 yuan, respectively.

China Vanke Co., the nation's biggest property developer by market value, rose 3.8 percent to 8.75 yuan.

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