Shenzhen A-shares close slightly higher; B-shares limit-up

SHENZHEN (AFX-ASIA) - A-share prices closed slightly higher after rebounding towards the close of the session, although trade remained lacklustre as investor attention continued to focus on the B-share market, dealers said. B-share prices closed limit-up on their fifth consecutive trading day of maximum gains since the launch of a policy giving domestic individuals formal access to the market, they said. While B-shares on the Shanghai market today came off their initial highs amid profit-taking, B-shares in Shenzhen have generally traded at lower prices than those in Shanghai during the past year, and hence have greater scope for gains at this stage, they said. The component A- and B-share index closed up 30.02 points or 0.65 pct at 4,601.68 on turnover of 6.86 bln yuan after trading to a high of 4,601.99 and a low of 4,564.70. The A-share sub-index rose 10.45 points or 0.2 pct to 5,196.03 on turnover of 6.24 bln yuan after trading between 5,196.40 and 5,151.91. The B-share sub-index closed 116.83 points higher at 1,355.56. FAW Car rose 0.12 yuan to 7.29 on 12.3 mln shares. Shanxi Taigang Stainless Steel gained 0.08 yuan to 6.83 on 8.2 mln shares, while Angang New Steel rose 0.06 yuan to 4.74 on 9.5 mln shares and Beijing Shougang closed unchanged at 11.12 on 4.2 mln shares. Shenzhen Development Bank was up 0.05 yuan to 15.1 on 6 mln shares. Among B-shares, Guangdong Electric Power rose 0.46 hkd to 5.06 on 16.1 mln shares. Hubei Sanonda rose 0.35 hkd to 3.8 on 33.4 mln shares, while Hefei Meiling gained 0.33 hkd to 3.6 on 13.3 mln shares. Shenzhen SEG gained 0.34 hkd to 3.74 on 16.1 mln shares. China Vanke rose 0.69 hkd to 7.61 on 2.8 mln shares.

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