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A-Shares Extend Rally, Metals, Tech Forge Ahead
The Shanghai Composite Index gain 0.46% to close at 3,128.54, while the Shenzhen Composite Index increased 0.73% to close at 1,112.35 on November 4. Trading volume on the Shanghai and Shenzhen Stock Exchanges came to RMB 14.54 billion and RMB 93.03 million respectively.
Nonferrous metals stocks posted the days' strongest gains, with electronics and IT shares close behind after a speech by Chinese Premier Wen Jiabao in which he called for greater development of the economy and technology industries, to combat the effects of the financial crisis, Sina reported. CEC CoreCast (600764.SH)soared 10.04%, East Compeace (002017.SZ) rose 10.01% and Gohigh Data Networks Technology (000851.SZ) grew 10.00%.
ChiNext reversed its downtrend from the previous two days, with 27 of the 28 listed companies trading higher than their opening price following a one hour suspension in the morning, Sina reported. Dinghan Technology (300011.SZ) expanded 10% and Ultrapower Information Engineering Technology(300002.SZ) increased 4.08%.
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