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A-Shares Top 3,300, Shanghai at 3-Mo High
The Shanghai Composite Index increased 0.62% to close at 3,303.23, while the Shenzhen Composite Index ended 0.28% higher at 1,188.47 on November 18. Trading volume on the Shanghai and Shenzhen Stock Exchanges declined from the previous day to RMB 181.54 billion and RMB 114.22 billion, respectively.
Strong third quarter performances from agricultural companies and speculation on approaching inflation drove agricultural shares higher on Wednesday, reports caixun.com. Shares of Xinjiang Sayram Modern Agriculture (600540.SH) grew 7.79%, Xinjiang Talimu Agriculture Development (600359.SH) rose 6.19% and Heilongjiang Agriculture Company Limited (600598.SH) increased 4.93%.
On the newly launched ChiNext board, shares of all 28 listed companies increase on November 18, with Sichuan Jifeng Agricultural Machinery Chain (300022.SZ), Bode Energy Equipment (300023.SZ) and Zhejiang Enjoyor Electronics (300020.SZ) closing over 10% higher, chinanews.com.cn reported.
Sources said China's state-owned pension fund may become the Agricultural Bank of China's first strategic investor with an injection of up to RMB 20 billion before ABC's initial public offering next year, reports chinadaily.com.cn.
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