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Chinese shares rise for fifth straight day

(Xinhua)
Updated: 2009-11-19 15:52

Chinese equities jumped to three-month high after five consecutive rises on Thursday, led by natural gas producers and pharmaceutical companies.

The benchmark Shanghai Composite Index was up 0.53 percent, or 17.38 points, to close at 3,320.61. The Shenzhen Component Index increased 0.42 percent, or 57.20 points, to close at 13,699.55.

Combined turnover jumped to 320.20 billion yuan ($47.09 billion) from 233.04 billion yuan on the previous trading day.

All of the 28 shares in the ChiNext market for start-up stocks were up.

Four natural gas makes gained by their daily limits of 10 percent buoyed by the price hike of non-civilian use of natural gas.

Related readings:  Chinese shares jump above 3,300 mark  Chinese shares rise to three-month high  Chinese shares boosted by energy, clean-tech shares  Chinese shares rise slightly to end week

Changchun Gas rose 10 percent to 9.63 yuan, and Shaanxi provincial natural gas co, Ltd ended at 24.02 yuan, up 9.98 percent.

Biopharmaceuticals companies advanced as the rising danger of flu pandemic was expected to raise vaccine demand.

The Northwestern Pharmaceuticals gained 9.97 percent to 12.58 yuan. Guangzhou Pharmaceuticals Company Ltd, the biggest Chinese medicine maker in the country, closed at 12.72 yuan, up 10.06 percent.

Bank shares bucked the trend on profit-taking. China Merchant's Bank fell 1.75 percent to 18.49 yuan. Industrial Bank Co, Ltd dipped 1.26 percent to 40.83 yuan.