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Index reverses morning losses

SHANGHAI'S key stock index ended slightly higher this afternoon, reversing morning losses, led by power producers and pharmaceutical sector.

The benchmark Shanghai Composite Index added 0.15 percent to close at 2,967.012 points. Turnover shrank to 145.8 billion yuan (US$21.4 billion) from 181.5 billion yuan. Losers outnumbered gainers 655 to 198, with 13 stocks unchanged.

The Shenzhen Composite Index, which tracks the smaller domestic market, was up 0.9 percent to close at 1,039.33 points.

Power producers were strong. Chongqing Three Gorges Water Conservancy surged by 10 percent daily cap to 8.56 yuan. Zhengzhou Coal Industry & Electric Power soared 9 percent to 10.37 yuan.

Kangmei Pharmaceutical Co jumped 7.9 percent to 10.33 yuan. Tianjin Zhongxin Pharmaceutical Group co expanded 7.88 percent to 24.09 yuan.


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