Home / Metal News / China Stocks Close up Tuesday, Led by Coal, Cement Shares

China Stocks Close up Tuesday, Led by Coal, Cement Shares

iconJun 22, 2011 09:12
Source:SMM

BEIJING, Jun. 22 -- Chinese shares posted a rally Tuesday after falling to the lowest level in almost nine months the previous trading day.

The benchmark Shanghai Composite Index rose 1.01 percent, or 26.43 points, to close at 2,647.68.

The Shenzhen Component Index rose 1.6 percent, or 181.31 points, to finish at 11,509.98.

Tuesday's rebound also ended a four-day losing streak in the country's stock market as shares in the coal and cement sectors led the rise.

Combined turnover from the two bourses expanded to 123.45 billion yuan (19 billion U.S. dollars) from 109.16 billion yuan the previous trading day.

Gainers outnumbered losers 799 to 99 in Shanghai and 1,114 to 139 in Shenzhen.

Cement shares led the rise as demand increases from the country's construction of affordable housings. Taiyuan Lionhead Cement Co. rose by the daily limit of 10 percent to finish at 10.31 yuan per share. Guangdong Tapai Group Co. gained 5.68 percent to end at 10.04 yuan per share.

Coal-related shares also trended upward on rising prices. Shanxi Lu'an Envrionmental Development Co. jumped 7.74 percent to 61.95 yuan per share. Shanxi Xishan Coal and Electricity Power Co. also rose 4.37 percent to finish at 23.63 yuan per share.

 

shares

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn