Biz Chinese shares jump above 3,300 mark 2009-Nov-18 16:17:16
Chinese equities continued upward for the fourth consecutive trading day Wednesday and surpassed the 3,300 mark.
The Shanghai Composite Index, which covers both A and B shares, climbed 0.62 percent to 3,303.23 points, its highest point since August 6. The Shenzhen Component Index edged down 0.21 percent to 13,642.35 points.
Gains outnumbered losses by 486 to 389 in Shanghai and 431 to 363 in Shenzhen.
Combined turnover shrank to 295.8 billion yuan ($43.3 billion) from 314.6 billion yuan on the previous trading day.
Energy and power shares boosted the index, as heavy snow and falling temperatures in north China had raised power demand, dealers said.
China Shenhua, the nation's largest coal producer, rose 1.47 percent to 37.99 yuan per share, while Huadian Power International Corp, a leading power generation firm, advanced 2.12 percent to 5.77 yuan per share.
Agricultural shares rose across the board, as heavy snow in north China has caused vegetable prices to rise in many provinces, with Heilongjiang Beidahuang Agriculture Co, an industry leader, surging 4.93 percent to 15.1 yuan per share.