Shanghai A-shares close slightly higher; B-shares at new high

SHANGHAI (AFX-ASIA) - A-share prices closed slightly higher after rebounding from their initial lows amid institutional support for key large-caps, dealers said.	    Despite index gains, turnover was thin and underlying sentiment cautious amid continued rumours that the government will soon launch a policy of floating listed companies' state shares, and concerns that the flotation of these shares may pressure A-share market liquidity, they said.	    While investors continued to focus on domestic issues, uncertainty over the outlook for Sino-U.S. relations following the collision of a U.S. navy surveillance aircraft and a Chinese fighter jet also contributed to the underlying cautious mood, they said.	    The A-share index rose 8.54 points or 0.38 pct to 2,217.57 on turnover of 11.87 bln yuan after trading between 2,217.61 and 2,200.68.	    B-share prices reached a record high closing level as strong buying by domestic individuals offset continued profit-taking following weeks of sustained sharp gains, they said.	    While domestic retail buying continues, analysts said many domestic institutions have already taken profits from the B-share market, and are now seeking other investment opportunities, particularly in Hong Kong's H-shares.	    The B-share index closed 2.88 points or 1.78 pct higher at 163.93 after trading between 163.98 and 161.45.	    The composite A- and B-share index closed 8.76 points or 0.41 pct higher at 2,117.36 on turnover of 13.57 bln yuan, after trading to a high of 2,117.41 and a low of 2,100.97.	    The SSE-30 index gained 2.18 points to 4,017.81. 

Related stock : (NIL)