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Lenders, coal producers power market gain in morning

SHANGHAI'S key stock index rose nearly 1 percent in the morning session, led by strong performance of lenders and coal producers.

The benchmark Shanghai Composite Index added 0.82 percent to 2,918.26 points. Turnover stood at 45.78 billion yuan (US$6.73 billion). Gainers outnumbered losers 594 to 242, with 48 stocks unchanged.

The Shenzhen Composite Index, which tracks the smaller domestic market, was up 0.57 percent to close at 1,004.48 points.

Bank of China gained 0.5 percent to 4.01 yuan. Industrial & Commercial Bank of China, the nation's biggest lender, inched up 0.4 percent to 4.98 yuan. Pudong Development Bank climbed 1.2 percent to 20.98 yuan. China Merchants Bank Co jumped 2 percent to 15.91 yuan.

China Shenhua Energy Co, the nation's biggest coal producer, increased 2.5 percent to 33 yuan, and Datong Coal Industry Co surged 5.79 percent to 39.46 yuan. China Coal Energy Co advanced 2.23 percent to 12.37 yuan.


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