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BIZCHINA / Market Reaction

Stock up 1.3%, despite capital diversion to new shares

Updated: 2007-07-12 16:16

Chinese stock trading went smoothly today and prices ended up 1.3
percent. The Shanghai Composite Index finished at 3,915.99, up 50.27
points.

Total turnover of stocks on the major indices was 102 billion yuan,
higher than the 99 billion yuan of yesterday, or the smallest in four
months.

Dates with monthly lowest turnover in 2007 (billion yuan)

Opening higher at 3,874.04, the benchmark index climbed to a high of
3,925.60 gradually with few deviations from an upward trend early in the
day. Then it turned around and slid to a low of 3,861.04, before rising
to its closing point.

Shanghai Composite Index
Source: www.sina.com.cn

Of the A shares listed in Shanghai, 483 went up, while 300 dropped and 57
ended flat. New share West Mining rose 144 percent to 19.36 yuan as the
top gainer, followed by Shanghai Port Container and Shandong Jiufa Edible
Fungus, also sealed at the maximum growth cap of 10 percent. Sanlian
Commerce, however, lost 34 percent, the day's biggest loser.

Following West Mining, China Minsheng Banking Corp ranked second both in
terms of trading volume and transaction value, and saw its share price
rise 2.5 percent to 12.22 yuan.

The Shenzhen Component Index, tracking the smaller Shenzhen Stock
Exchange, opened higher at 12,811.15 and closed at 12,850.74, up 65.07
points or 0.51 percent. Its priced remained within a range of 12,729.05
to 12,951.72.

Shenzhen Component Index
Source: www.sina.com.cn

Of the index's A shares, 325 were up, 212 down and 78 unchanged. East
China Engineering Science and Technology ranked on top of the surging
share prices with a 147 percent rise on its first trading day while Anhui
Gujing Distillery, suspected of price manipulating conducts, lost 10
percent to lead the fall. China Vanke, with both the largest trading
volume and transaction value, added 0.06 yuan to its share price.

Stocks in the timber, retail, wholesale and services industries performed
best today. Fujian Yongan Forestry Group surged 5.5 percent to pioneer
the forestry sector.

B shares were particularly strong today. Of the 109 listed B shares, only
four dropped and two ended flat. Chengde Dixian Textile climbed 10
percent to 2.81 yuan, as today's biggest B-share gainer.

(For more biz stories, please visit Industry Updates)

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