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      Shares prolong rally in vigorous trading

      2013-08-07 08:17 Global Times Web Editor: qindexing
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      After an early dip, stock markets on the Chinese mainland extended their recent run of wins Tuesday as sentiment continues to run high.

      The Shanghai Composite Index added 10.02 points, or 0.49 percent, to finish at 2,060.50; while the Shenzhen Component Index rose 82.74 points, or 1.03 percent, to close at 8,143.13.

      Both indices opened lower on losses among property and financial stocks. Later gains in medical and media shares lifted the markets out of their opening rut. Surges in automobile, nonferrous metals and coal stocks helped the indices shift through the gears as the afternoon progressed, pulling the markets to their sixth positive finish in a row.

      Trading was hot and heavy throughout the day, with combined volume from the two exchanges hitting 210 billion yuan ($34.31 billion); up about 36 billion yuan over the previous day's turnover.

      Nonferrous metal and coal shares both ended the day with average gains of 0.8 percent. In nonferrous metals, China Minmetals Rare Earth Co Ltd tacked on 3.79 percent to 24.09 yuan. In the coal sector, Zhengzhou Coal Industry & Electric Power Co Ltd added 5.74 percent to 5.34 yuan.

      Dairy producers had a mixed day following their broad rise Monday on recalls of potentially contaminated products from New Zealand dairy titan Fonterra. Zhejiang Beingmate Technology Industry & Trade Co edged up 1.29 percent to 33.80 yuan, while Inner Mongolia Yili Industrial Group Co lost 1.02 percent to 36.71 yuan.

      Environmental protection stocks were among the biggest decliners. Beijing Originwater Technology Co retreated 3.15 percent to 45.57 yuan.

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