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Local shares rise at end of a good month

SHANGHAI'S key stock index rose 1.71 percent yesterday, ending the last trading day of the month with a strong performance by the banking sector and oil producers.

The benchmark Shanghai Composite Index climbed 44.36 points to close at 2,632.93. Turnover was 103.2 billion yuan (US$15.1 billion).

The index rose 1.36 percent over the past week and 6.27 percent this month.

China Petroleum & Chemical Corp, Asia's largest refiner, also known as Sinopec, rose 2.37 percent to 10.38 yuan. PetroChina, the biggest index component, hiked 4.35 percent to 13.66 yuan.

Bank of Communications advanced 4.77 percent to 7.03 yuan. China Construction Bank rose 2.69 percent to 4.58 yuan. Industrial & Commercial Bank of China, the nation's biggest lender, was up 2.6 percent to 4.34 yuan.

Sinolink Securities added 1.14 percent to 37.26 yuan and Haitong Securities was up 0.78 percent to 14.15 yuan.

China Life Insurance Co Ltd, the country's largest life insurance company, climbed 1.19 percent to 22.98 yuan. China Pacific Insurance (Group) Co Ltd added 1.12 percent to 17.15 yuan.


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