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Chinese shares rise 1.71%, led by oil producers

(Xinhua)
Updated: 2009-05-27 15:56

Chinese shares rose 1.71 percent Wednesday, led by the country's two largest oil producers, on market expectation that the government would raise gasoline retail prices.

Related readings:  Shares end down as energy firms falter  Chinese shares rise, led by financial and real estate stocks  Chinese shares fall slightly  Chinese shares fall for 3rd day in a row on profit-taking

The benchmark Shanghai Composite Index rose 1.71 percent, or 44.36 points, to close at 2632.93. The Shenzhen Component Index was up 1.05 percent, or 105.62 points, to 10,127.92.

Combined turnover shrank to 161.26 billion yuan ($23.61 billion) from 192.2 billion yuan the previous trading day.

Gainers led losers by 440 to 417 in Shanghai and 414 to 339 in Shenzhen.