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Stocks edge up 0.14% after price cuts

(Xinhua)
Updated: 2008-12-19 17:31

BEIJING - Chinese equities advanced by a modest 0.14 percent on the last trading day this week, as investor confidence remained weak despite a slew of government moves to prevent a deepened slowdown of the economy.

Dealers said sell-offs of heavy-weighted shares shortly before the closing erased some earlier gains, which were led by airliners following the government's earlier-than-expected plan to cut domestic fuel prices late Thursday night.

The benchmark Shanghai Composite Index finished the day at 2,018.46 points, up 2.77 points, retreating a high of 2,038.66. The smaller Shenzhen Component Index added 26.36 points, or 0.36 percent, to 7,412.47.

The combined turnover in Shanghai and Shenzhen was expanded to 110.32 billion yuan (US$16 billion), up from 99.49 billion yuan registered on the previous day.