News Group
Chinas stocks close mixed Monday
Issue Time:2010-12-07

China's equities had a mixed close Monday, with the benchmark Shanghai Composite Index driven up by oil and financial heavyweights to end at 2,857.18, up 0.52 percent, or 14.75 points.

The Shenzhen Component Index fell 0.16 percent, or 20.22 points, to end at 12,422.79.

Total turnover contracted to 203.93 billion yuan (30.62 billion U.S. dollars) from 206.8 billion yuan the previous trading day.

Losers outnumbered gainers by 643 to 224 in Shanghai and 901 to 207 in Shenzhen.

Computer, power equipment, and food and beverage makers were down more than 2 percent, while rises in the oil and chemicals sectors and financial shares helped push up the index.

Oil stocks, fueled by global price hikes, led the gains. PetroChina, the country's largest oil and gas producer, rose 4.72 percent to 11.77 yuan. Sinopec, the nation's top refiner, advanced 1.96 percent to 8.34 yuan.

Brokerages and banking shares contributed to the rise, with Guangzhou-based Guangfa Securities Co. rising by the daily limit of 10 percent to 50.09 yuan, and China Merchants Bank Co. up 1.67 percent to end at 13.42 yuan.

Gold producers rose, boosted by gold price rises on international markets. Zhongjin Gold Co., a subsidiary of the nation's largest gold producer, China Gold Group Co., was up 2.62 percent to 40.16 yuan. Zijin Mining Co., China's biggest gold producer, climbed 1.69 percent to 8.42 yuan.

Liquor stocks declined sharply in the afternoon trading secession. China's leading liquor producer, Kweichow Moutai Co., slid 3.39 percent to close at 193.02 yuan.