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Chinese shares edged up at midday
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14:28, December 31, 2008

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Chinese shares edged up in Wednesday's morning session with combined turnover continued falling.

The benchmark Shanghai Composite Index gained 2.49 points, or 0.14 percent, to 1,835.40 points in the morning session.

Shenzhen Component Index on the smaller Shenzhen Stock Exchange retreated 15.68 points, or 0.24 percent to 6,542.48.

Combined turnover was 25.63 billion yuan (3.76 billion U.S. dollars), lower than 27.71 billion yuan in the morning session of the previous trading day.

Gains outnumber losses by 399 to 377 in Shanghai, and 388 to 271 in Shenzhen.

Household electric appliance shares moved up as the country's General Office of the State Council put forward suggestions on boosting consumption in Wednesday's morning.

Hisense Electric Co. Ltd. rose 4.92 percent to 6.40 yuan, and Gree Electric Appliances rose 2.56 percent to 19.64 yuan.

Steel shares were dented by losses of main steel makers. Guangzhou Iron and Steel lost 2.86 yuan to 3.73 yuan. Tangshan Iron and Steel fell 9.02 percent to 3.73 yuan affected by the merger plan announced on Tuesday.

Source:Xinhua



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