Shanghai shares close higher; B-shares at record highs

SHANGHAI (AFX-ASIA) - A-share prices closed higher amid continued institution-led gains in key large-cap shares, dealers said.	    B-share prices closed higher, at a record high closing level, led by stocks seen benefiting from asset restructuring, they said.	    Although B-shares remained under pressure from heavy profit-taking, this has been offset by strong retail buying, and by moves by domestic institutions to drive prices higher as they take profits, they said.	    The A-share index gained 21.09 points or 0.98 pct to a high of 2,169.54 on turnover of 11.96 bln yuan after trading to a low of 2,149.21.	    The B-share index closed 3.22 points or 2.33 pct higher at 141.44 after trading between 141.83 and 137.29.	    The composite A- and B-share index rose 20.59 points or 1.0 pct at a high of 2,066.39 on turnover of 14.0 bln yuan after trading to a low of 2,046.43.	    The SSE-30 index rose 88.69 points to 4,021.17.	    Dealers said B-shares extended their gains in the second session as Shanghai Tyre & Rubber resumed trading following an announcement that the company will sell fixed assets in two subsidiaries to Shanghai Michelin.	    As Shanghai Tyre & Rubber traded limit-up, this boosted several other poor quality B-shares amid hopes the companies will benefit from asset restructuring.	    They added that B-shares are expected to chart further gains amid strong liquidity, noting that the negative impact of declines on international markets has been limited, since domestic investors now account for the bulk of B-share trade. 

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