Shenzhen A-shares close slightly higher; B-shares higher
SHENZHEN (AFX-ASIA) - A-share prices closed slightly higher as institution-led gains in key large-caps offset declines in other shares, dealers said. Despite institutional support, follow-through buying remained light amid a lack of fresh leads and doubts about the market's ability to extend gains in a weakening international economic environment, they said. B-shares closed higher with heavy turnover as continued strong domestic buying outweighed heavy profit-taking following sharp gains over recent weeks, they said. The component A- and B-share index closed 36.79 points higher at 4,883.22 on turnover of 12.28 bln yuan after trading to a high of 4,883.80 and a low of 4,851.66. The A-share sub-index rose 29.38 points to 5,399.73 on turnover of 7.33 bln yuan after trading between 5,404.14 and 5,372.17. The B-share sub-index closed 65.29 points higher at 1,953.89 after trading between 1,988.54 and 1,900.45. Shenzhen Development Bank rose 0.05 yuan to 16.7 on 8.9 mln shares. China Vanke rose 0.13 yuan to 14.58 on 4.2 mln shares, after publishing 2000 results showing a 30-pct rise in net profit year-on-year. Guangdong Expressway gained 0.36 yuan to 12.41 on 4 mln shares. Monkey King rose 0.24 yuan to 6.13 on 5.4 mln shares. Among B-shares, China Vanke rose 0.22 hkd to 9.47 on 6.2 mln shares, while China Southern Glass rose 0.48 hkd to 8.54 on 15.1 mln shares and Fangda rose 0.47 yuan to 8.29 on 17.3 mln shares.
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