Chinese shares rise 0.15%

(Xinhua)
Updated: 2009-09-21 19:27

BEIJING: Chinese equities closed 0.15 percent higher Monday.

The benchmark Shanghai Composite Index added 4.34 points to finish at 2,967.01.

The Shenzhen Component Index climbed 0.57 percent, or 67.81 points, to end at 12,045.21.

Aggregate turnover rose to 231.99 billion yuan ($33.97 billion) from 202.36 billion yuan on the previous trading day.

Gainers outnumbered losers by 568 to 280 in Shanghai and 504 to 250 in Shenzhen.

Metallurgical Corporation of China Ltd., the construction company that helped build the Bird's Nest stadium, opened at 7.33 yuan at its debut in Shanghai. It ended 6.94 yuan, 28.04 percent higher than its IPO price.

The nation's second largest IPO (initial public offering) this year refreshed investors' jitters about the new share sales could make more funds be pulled out of the market.

Ten small and medium-sized companies said Monday they would accept subscriptions for their IPOs on China's impending Nasdaq-style board at the end of the week. The 10 companies are among 13 that have received approval from the China Securities Regulatory Commission to list on the Growth Enterprise Market (GEM).

Information the GEM will be launched later in October weighed on investors' sentiments on the main boards.

The equities slumped remarkably 1.47 percent on the morning session, but rebounded in the afternoon session.

Analysts said positive signals from the government contributed to the growth in the afternoon session.

The Communist Party of China (CPC) Central Committee has vowed continuing to maintain sound and fast growth as its primary task in economic work in a communique issued Friday at the closing of the Fourth Plenary Session of the 17th CPC Central Committee.

Consumer companies gained on expectations people will spend more on next week's National Day holidays.