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Chinese fares gain 2.11% Monday, led by coal producers

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 An investor looks at the share prices at a tock exchange in Hangzhou, capital of east China's Zhejiang Province, Aug. 16, 2010. The benchmark Shanghai Composite Index closed at 2,661.71 points Monday, up 55.01 points, or 2.11 percent, from the previous close. The Shenzhen Stock Index climbed 2.56 percent, or 278.22 points to finish at 11164.79 points. (Xinhua/Han Chuanhao)

BEIJING, Aug. 16 (Xinhua) -- Chinese shares gained broadly Monday with coal producers leading the rise as the benchmark stock index rose 2.11 percent, its biggest advance this month.

The benchmark Shanghai Composite Index closed at 2,661.71 points, up55.01 points.

The Shenzhen Component Index ended at 11,164.79 points, up 278.22 points, or 2.56 percent.

Combined turnover expanded sharply to 244.8 billion yuan (36.03 billion U.S. dollars) from 175.55 billion yuan the previous trading day.

Gainers outnumbered losers 862 to 6 in Shanghai and 986 to 21 in Shenzhen.

Coal production companies led the gains. China Shenhua Energy Co., the country's largest coal producer, advanced 5.37 percent to close at 23.93 yuan.

China Coal Energy Co., the nation's second largest coal company, added 2.92 percent to finish at 9.88 yuan after the company said Sunday its first-half profit increased 25 percent year on year.

China Cosco Holdings Co., the nation's largest shipping firm, rose by the daily limit of 10 percent during the morning session to hit 10.31 yuan.

The property sector also rallied. China Vanke Ltd., the country's biggest developer, posted a 0.57-percent gain to close at 8.89 yuan while Poly Real Estate Group edged 0.86 percent higher to finish at 12.97 yuan.

The Shanghai Composite Index has added 9.8 percent since it dropped to 2,424.30 points on July 15, its low point for the year, as investors speculate the government will not further rein in lending to cool the housing market amid the recent slowdown in economic growth rates. Enditem

The Shanghai Composite Index has added 9.8 percent since it dropped to 2,424.30 points on July 15, its low point for the year, as investors speculate the government will not further rein in lending to cool the housing market amid the recent slowdown in economic growth rates.

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