China stocks close higher Friday

Source:Xinhua Published: 2013-3-15 18:39:49

Chinese stocks continued to rise on Friday due to strong performances by China Concepts Stock companies operating in the air transportation, 3D printing and sea water desalinization sectors.

The benchmark Shanghai Composite Index gained 0.36 percent, or 8.12 points, to end at 2,278.40.

The Shenzhen Component Index increased 0.13 percent, or 12.03 points, to 9,099.29.

Combined turnover surged to 185.53 billion yuan (29.83 billion US dollars) from 130.42 billion yuan on the previous trading day.

Losers outnumbered gainers by 469 to 449 in Shanghai, while gainers outnumbered losers by 797 to 667 in Shenzhen.

Analysts said they expect weaker market confidence in the future despite a recent surge in turnover.

Aucma Co., Ltd., a producer of home appliances, led the increase by rising by the daily 10-percent limit for two consecutive trading days to 6.89 yuan per share.

Shares of sea water desalination companies performed well due to the recent release of an official notice regarding the sector's first pilot companies.

Air transportation shares also rose after Hainan Airlines issued its annual report, which boosted its shares to 4.52 yuan per share, as well as gave a lift to China's three largest airlines.

The real estate sector performed poorly after Jiang Weixin, minister of housing and urban-rural development, said Friday that the government will maintain strict measures in order to cool the property market.

Posted in: Markets

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