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Metals add steel to morning market

SHANGHAI'S key stock index ended higher in the morning session, led by non-ferrous metal producers.

The benchmark Shanghai Composite Index rose 0.64 percent, or 17.54 points, to close at 2,738.82 points, the highest level in 10 months. Gainers outnumbered losers 540 to 300 while 32 remained unchanged. Turnover stood at 90.85 billion yuan (US$13.36 billion) from 103.2 billion yuan on the previous trading day.

The Shenzhen Composite Index, which tracks the smaller domestic market, was up 0.92 percent to close at 909.21 points.

Zijin Mining Group jumped 7 percent to 10.09 yuan. Shandong Gold Mining Co increased 5.25 percent to 51.52 yuan. Minmetals Development Co advanced 4.72 percent to 18.2 yuan. Jiangxi Copper Co added 2.89 percent to 31.99 yuan.

Property developers had mixed performances. Gemdale Corp, a Chinese partner of ING Group NV, climbed 6.83 percent to 14.08 yuan. Poly Real Estate Group Co, China's second-largest developer by market value, surged 5.35 percent to 23.81 yuan while Shanghai-based Shimao Property Co dropped 1.66 percent to 14.25 yuan.


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