(Xinhua)
Updated: 2008-04-30 18:11

BEIJING - Chinese shares ended Wednesday, the last trading day of the month, sharply higher, with heavyweights, Sinopec in particular, leading the way.

Market sentiment was spurred as transaction volume was robust with a 55 percent increase on the previous trading day.

Combined turnover on the two bourses soared dramatically to 225.47 billion yuan (US$ 32.2 billion), up from 145.42 billion yuan one day earlier.

In addition to heavyweights, secondary- and tertiary-tier stocks also gained, with more than 40 shares rising by the 10-percent daily limit.

Upward movement leaders were from banking, broking, oil, steel, telecommunication, coal and real estate sectors, with Olympic-related companies performing in an impressive manner throughout the whole trading day.

Among the top 10 heavyweights, Sinopec, China's largest oil refiner, rose by the 10-percent daily limit, China Life, the nation's biggest life insurer, gained 8.23 percent to 36.69 yuan, China Ping An, another major insurer, rose 6.07 percent to 69 yuan, and PetroChina, the largest oil producer, went up 5.92 percent to 18.07 yuan.

Among Olympic-related businesses, Hualian, Beijing Bashi and Beijing Urban Construction rose by the 10-percent daily limit. Dalong Property went up 8.96 percent to 10.95 yuan, and Huaneng Internatonal, up 7.33 percent to 9.66 yuan.

In the financial sector, Huaxia Bank rose by the 10-percent daily limit, Pudong Development Bank gained 8.76 percent to 32.4 yuan, the Industrial and Commercial Bank of China, went up 3.26 percent to 6.66 yuan, and CITIC Securities, up 7.6 percent to 39.64 yuan.

On Wednesday, the benchmark Shanghai Composite Index concluded the daily trading at 3,693.11 points, 169.70 points, or 4.82 percent, higher than the previous close.

The Shenzhen Component Index for the smaller stock exchange in Shenzhen gained 624.01 points, or 4.84 percent, to close at 13,504.88 points.

Gains outnumbered losses by 819 to 17 in Shanghai and by 657 to 13 in Shenzhen.