Chinese equities gain 0.35% to 8-month high

Special Report:Global Financial Crisis

BEIJING, April 15 (Xinhua) -- Chinese equities ended 0.35 percent higher Wednesday, continuing the upward trend for the fifth consecutive trading day, and hitting a new high since early August last year.

The benchmark Shanghai Composite Index finished the day at 2,536.06 points, up 8.88 points or 0.35 percent, from the previous close.

The Shenzhen Component Index went up 0.48 percent, or 46.4 points, to close at 9,724.58.

Gains outnumbered losses by 524 to 320 in Shanghai and 468 to 260 in Shenzhen.

Combined turnover expanded to 268.93 billion yuan (39.35 billion U.S. dollars) Wednesday from 252.32 billion yuan on the previous trading day.

The Shanghai Composite Index opened 0.5 percent lower at 2514.59 points, echoing the overnight Wall Street losses. Dealers said investors were confident as some economic recovery signs had emerged.

The Shanghai Composite Index has gained more than 37 percent from the beginning of this year.

Coal shares rose across the board on expectation of coal price rise. Datong Coal Industry Co., Ltd. surged 6.19 percent to 26.94 yuan, while Yanzhou Coal Mining Co., Ltd. jumped 4.8 percent to 16.59 yuan.

China Southern Airlines, the country's leading carrier, lost 1.75 percent to 6.17 yuan as it announced Wednesday that it lost 4.83 billion yuan in 2008 on high fuel costs, sluggish traffic business and several natural disasters. The figure was worse than market expectation, dealers said.

China Life lost 1.93 percent to 24.9 yuan after the country's leading insurer reported Tuesday night that its first-quarter
premium income reached 104 billion yuan, only 1.8 billion higher from a
year ago.

Chinese shares gain as gov't announces plans for health care reform

Special Report:Global Financial
Crisis

BEIJING, April 7 (Xinhua) -- Chinese equities rose slightly Tuesday after the government announced long-anticipated health reform plans.

The benchmark Shanghai Composite Index gained 0.8 percent, or 19.4 points, to close at 2,439.18. The Shenzhen Component Index, however, fell 0.13 percent, or 12.4 points, to 9,232.26.

Gains outnumbered losses by 641 to 275 in Shanghai and 568 to 210 in Shenzhen.

Combined turnover was 181.6 billion yuan (26.59 billion U.S. dollars), down from 241.45 billion yuan on the previous trading day.

China unveiled a blueprint for health care reform over the next decade Monday and followed up with further details Tuesday, launching a long-awaited plan to fix the ailing medical system and ensure fair and affordable care for all 1.3 billion citizens.

The reform proposals would provide a strong boost to the medical industry, as increased government spending would benefit pharmaceutical companies and medical instrument producers, analysts said.

The pharmaceutical sector, driven by the reform plans, was up 1percent Tuesday.

Wandong Medical, the leading X-ray equipment maker, rose 2.42 percent to close at 8.47 yuan.

Renhe Pharmacy Co. Ltd., based in Jiangxi Province's Jiujiang City, jumped by the 10-percent daily limit to close at 12.98 yuan. Jilin Zixin Pharmaceutical Industry Co. Ltd., rose 6.03 percent to17.06 yuan.

Coal shares performed strongly on word that coal inventories had begun to fall after major power plants increased coal consumption.

China Coal Energy Co. Ltd., a leading coal producer, rose by the 10-percent daily limit to close at 10.11 yuan. The nation's biggest coal producer, China Shenhua, saw its share price rise 5.35 percent to 23.08 yuan.

Yet shares of banking and real estate sectors fell on profit taking.

Bank of Nanjing fell 2.73 percent to close at 12.85 yuan and Industrial Bank fell 1.78 percent to 23.72 yuan.

China Vanke, the nation's largest real estate developer by market value, fell 0.92 percent to 8.59 yuan. Poly Real Estate was down 2.42 percent to 22.54 yuan.