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Chinese shares gain 0.32% at morning close

(Xinhua)
Updated: 2009-03-25 13:45

Chinese shares gained 0.32 percent on Wednesday morning despite an overnight Wall Street fall. Shares in energy led the market after the government raised gasoline and diesel prices on Tuesday night.

The benchmark Shanghai Composite Index rose 7.48 points to 2345.9 during the morning session. The Shenzhen Component Index was up 0.45 percent, or 40.23 points to 8995.07.

The energy sector gained 2.22 percent, with PetroChina up 0.76 percent to 11.86 yuan (about $1.74), and Sinopec rising 1.69 percent to 9.02 yuan.

China raised the price of gasoline and diesel by 290 yuan ($42.46) per ton and 180 yuan per ton, respectively. It is the second oil price adjustment this year.

Wall Street moved lower Tuesday, as financials and commodity stocks retreated after stocks posted their biggest gains in five months. The Dow Jones industrial average was down 115.65 points, or 1.49 percent, at 7,660.21.