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Stocks ladder up to new ground

By Li Zengxin (chinadaily.com.cn)
Updated: 2007-05-29 16:02

The benchmark Shanghai Composite Index broke the 4,300 barrier today and closed up 1.47 percent at 4,334.92, again making a new record on just one point below the daily highest level.

After opening higher from 4,288.98, the index had another daily of long-march growth with the largest drawback before the closing by noon to the daily lowest of 4,262.02. Besides the ten-minutes slump, it went through the day on a general upward trend with few deviations. Turnover in the two exchanges was 378.3 billion yuan, slightly down from yesterday's record large of 394.6 billion yuan.

In the Shanghai market, prices of 542 stocks went up, while 227 were down and 72 ended flat. Zhejiang King Refrigeration Industry was the top gainer, rising 10.05 percent to 11.28 yuan. Jinling Hotel and Southwest Pharmaceutical also saw their share prices sealed at the maximum cap. On the other side of the table, Songliao Automobile led the fall by a 5.03 percent drop.

China Unicom had both the largest trading volume and transaction value, with its share price rising 1.41 percent to 6.49 yuan.

Also opening higher, the Shenzhen Component Index ended at 13,456.60, up 3.3 percent. It went through the day within a range between 13,097.84 and 13,458.34, both above the previous closing. Of its A shares, 378 closed up, 135 went down and 96 ended flat.

Chifeng Dadi Basic Industry and Sichuan Chemical were the top gainers, while Shenzhen CAU Technology lost the biggest at the Shenzhen market. TCL had the largest trading volume and China Vanke saw the largest transaction value.