Chinese stocks end slightly higher
The benchmark Shanghai Composite Index moved up 0.09 percent, or 2.06 points, to close at 2,349.59.
Chinese stocks ended slightly higher on Thursday after official data showed a rebound in consumer price growth in January.
Gainers outnumbered losers by 598 to 283 in Shanghai and by 992 to 345 in Shenzhen.
Total turnover rose to 169.3 billion yuan (26.87 billion U.S. dollars) from 147.5 billion yuan on the previous trading day.
Indices on both stock exchanges gave up gains in afternoon trading after climbing to new highs, indicating that investors remain cautious about policy moves, analysts said.
But an Everbright Securities report said the rebound will continue in February, as market shares are undervalued and industrial capital will increase stock holdings.
The property sector rose the most, with shares up 1.74 percent across the board. China Vanke, the country's largest real estate developer, gained 1.45 percent to close at 7.7 yuan per share. The Shenzhen-based Gemdale Corporation surged 2.85 percent to 5.41 yuan.
Shares of medical equipment manufacturers also rallied, with Topchoice Medical Investment up 3.42 percent to finish at 19.68 yuan and Shenzhen Glory Medical up 3.2 percent to 20.31 yuan.
The ferrous metal and banking sectors lost ground, with Jilin Liyuan Aluminum sliding 2.61 percent to close at 19.78 yuan. The Bank of Communications, China's fifth largest bank by asset value, lost 0.98 percent to finish at 5.03 yuan.
Other Market analysis articles
- Beijing's struggle to keep arable land away from the developers
- The iron-ore deposit that grows with every headline
- The end of scientific development, return to property speculation
- CNOOC looks to unconventional oil and gas to increase production
- Hang Seng Index climbs 1.3%, strong start to year
- China's Shanghai Index kicks on signs of easier monetary policy
- Guangdong inks 10% GDP growth
- Hang Seng Index hits three months high
- China stock index broaches 2,300 level
- China Guangdong Nuclear Power Group closer to offer for uranium company
- China's steel output up 8.9% in 2011
- Shanghai's GDP grows 8.2% in 2011, strong retail sales
- Guangxi is now China's largest coal importer
- Hong Kong stocks climb 1.6%, highest close since Sept. 1
- Hang Seng Index unchanged in light Fri trading