SHANGHAI (XFN-ASIA) - B-shares in Shanghai and Shenzhen closed higher with blue chips remaining in favor due to follow-through buying, dealers said.
The Shanghai B-share Index rose 1.74 points to 112.63 on turnover of 365.63 mln usd and the Shenzhen B-share Index was up 0.10 points at 357.56 on turnover of 284.34 mln hkd.
'Blue chips on the hard currency markets continued to be buoyed by follow-through interest, as their prices are still undervalued compared with those of A-shares,' a Shanghai-based analyst said.
Shanghai Zhenhua Port Machinery Co Ltd (SHB 900947; SHA 600320) rose 0.091 usd or 8.30 pct to 1.188. Dazhong Transportation (Group) Co Ltd (SHB 900903; SHA 600611) jumped 0.017 or 3.26 pct to 0.539.
Shanghai Jin Jiang Tower Co Ltd (SHB 900914; SHA 600650) added 0.027 usd or 3.51 pct to 0.796.
On the Shenzhen B-share market, China Vanke Co Ltd (SZB 200002; SZA 000002) added 0.27 hkd or 2.46 pct to 11.24.
Guangdong Electric Power Development Co Ltd (SZB 200539; SZA 000539) gained 0.10 hkd or 2.22 pct to 4.60. Shenzhen Accord Pharmaceutical Co Ltd (SZB 200028; SZA 000028) rose 0.19 or 3.78 pct to 5.22.
The FTSE/Xinhua China B 35 Index was up 44.47 points at 4,862.98.
The benchmark Shanghai Composite Index, which covers both A- and B-shares listed on the Shanghai Stock Exchange, closed up 20.27 points, or 1.0 pct, at 2,037.55, a new 63-month high, after moving between 1,988.93 and 2,037.74.
Turnover fell to 32.65 bln yuan from 33.37 bln in the previous session.
(1 usd = 7.90 yuan; 7.8 hkd)
lake.xu@xinhuafinance.com
© 2006 AFX News
