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Chinese shares rally on Wall Street gains

2013-11-28 15:31 Xinhua Web Editor: qindexing
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Chinese shares, tracking record gains on Wall Street, rallied on Thursday after a mild rebound on the previous trading day.

The benchmark Shanghai Composite Index climbed 0.83 percent, or 18.30 points, to finish at 2,219.37. The Shenzhen Component Index gained 1.20 percent, or 100.91 points, to finish at 8,548.37.

Total turnover on the two bourses grew to 252.41 billion yuan (41.18 billion U.S. dollars) from 222.97 billion yuan the previous trading day.

U.S. stocks rose on Wednesday on upbeat employment figures, with the Dow ending 0.15 percent higher and the S&P 500 adding 0.25 percent -- both at record highs. The NASDAQ rose 0.67 percent to end above 4,000 for the first time since the end of the dot-com bubble in 2000.

The coal industry posted gains during Thursday's trading, following news that China will raise the threshold on new coal mines and halt approval on those that do not meet specified requirements in the latest effort to regulate the oversupplied sector. Tax burdens on coal producers will be eased and quality checks on imports strengthened, according to a State Council circular on Thursday.

Anyuan Coal Industry Group Co., Ltd. rose by the daily limit of ten percent. Yanzhou Coal Mining Co., Ltd. climbed 2.96 percent to end at 10.42 yuan per share.

The aviation industry led the declines, with its sub-index down 1.63 percent. Jiangxi Hongdu Aviation Industry Co., Ltd. slumped 5.04 percent to 20.52 yuan. China Spacesat Co., Ltd. lost 3.06 percent to 20.30 yuan. 

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