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Chinese Stocks Close Higher Feb 20
Feb 21,2013 08:45CST
industry news
Source:SMM
Chinese stocks reversed a downward trend in the morning session to end higher on Wednesday, the first rise after the week-long Spring Festival holiday.

BEIJING, Feb. 20 (Xinhua) -- Chinese stocks reversed a downward trend in the morning session to end higher on Wednesday, the first rise after the week-long Spring Festival holiday.

The benchmark Shanghai Composite Index moved up 0.6 percent, or 14.26 points, to end at 2,397.18, while the Shenzhen Component Index rose 0.99 percent, or 94.94 points, to 9,645.87.

Combined turnover on the two bourses totalled 193 billion yuan (30.7 billion U.S. dollars).

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, surged 3.80 percent, or 31.15 points, to close at 850.86 points, indicating a rebound in listed high-tech companies and those with high growth potential.

Companies engaged in medical instruments, pharmacy and environmental protection enjoyed the biggest gains on Wednesday's trading, with shares rising 4.76, 4.05 and 3.94 percent respectively.

The finance sector saw the weakest rise with a 0.12 percent increase. The SPD Bank suffered the biggest decline of 2.61 percent.

Companies in the non-ferrous metal, cement and liquor sectors also suffered. Kweichow Moutai's stocks declined 0.01 percent to end at 177.9 yuan per share. Wuliangye dropped nearly 0.2 percent to end at 24.77 yuan per share.

It was reported that China's top economic planner is considering a heavy fine for the two leading premium liquor makers due to alleged price manipulation.
 

Chinese stocks
Shanghai Composite Index
non-ferrous metal companies

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