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Shares edge up led by energy producers

China Daily | Updated: 2009-07-23 07:57

Shares edge up led by energy producers

China's stocks rose, rebounding from the Shanghai Composite Index's biggest drop in five weeks, as energy producers gained on expectations an economic recovery will boost power demand and bolster earnings.

China Petroleum & Chemical Corp, also known as Sinopec, jumped the daily 10 percent limit to 13.38 yuan, the most in four years, after Nomura Holdings Inc said first-half profit at the oil refiner may more than triple.

PetroChina Co, the nation's biggest oil company, added 5.3 percent to 15.45 yuan, while China Shenhua Energy Co surged 4.5 percent to 36.67 yuan. The three stocks accounted for more than half the benchmark index's gain yesterday.

Shares edge up led by energy producers

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