Equities end up on gains by financials

Chinese shares ended slightly higher yesterday as falling transport rates spurred declines in shipping companies and overshadowed the gains by financial companies.

Shanghai International Port (Group) Co, the operator of the country's busiest harbor, lost 3.1 percent and China Shipping Development Co slid 1.2 percent as a measure of shipping costs for commodities declined for a ninth session. Industrial Bank Co rallied 5.5 percent, paring its loss from its high this year to 21 percent.

Almost two stocks fell for each that rose on the Shanghai Composite Index, which added 10.83, or 0.4 percent, to 2,853.55. The gauge traded between a loss of 2.1 percent and a gain of 1.5 percent yesterday, after closing at a three-week low on Wednesday. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, gained 0.7 percent to 3,080.93.