Shanghai A-shares close higher led by large caps; B-shares at new high

SHANGHAI (AFX-ASIA) - A-share prices closed higher, slightly below their record high closing level, led by strong gains in large-caps, particularly China Minsheng Banking Corp, dealers said.	    Over the weekend, China Minsheng Banking published its 2000 annual results showing 114 pct growth in net profit, they said, adding that confidence has been boosted over recent weeks, as companies have generally reported an improvement in earnings in 2000.	    Investors appear to be largely focusing on the basic news of an improvement in earnings, and may be little concerned about the quality of this earnings growth, they said, adding that much of the growth appears to have come from listed companies' own investments via the stock market.	    The A-share index gained 12.21 points or 0.55 pct to 2,226.90 on turnover of 14.62 bln yuan after trading between 2,228.75 and 2,216.37.	    The composite A- and B-share index closed 12.30 points or 0.58 pct higher at 2,125.08 on turnover of 16.92 bln yuan after trading to a high of 2,126.96 and a low of 2,114.77.	    The composite index was marginally below its record high closing level of 2,125.65.	    B-share prices closed sharply higher, at a record high closing level, in active trade as profit-taking was offset by continued strong buying.	    Despite several weeks of sustained sharp gains, B-share selling pressure is relatively light, since many investors who took positions recently remain unwilling to sell until further gains have created large scope for profit-taking, they said.	    The B-share index closed 3.31 points or 2.12 pct higher at 160.19 after trading between 160.84 and 157.89.	    Analysts also said investors did not appear concerned that a collision between a U.S. navy aircraft and a Chinese fighter jet over the South China Sea would lead to a deterioration in Sino-U.S. relations.	    The SSE-30 index rose 12.34 points to 4,073.40. 

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