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Stocks end higher over oil price slump

(Xinhua)
Updated: 2008-08-25 16:58

Chinese equities edged up on Monday after falling for two consecutive days, boosted by a sharp decline in world crude oil prices and gains on Wall Street and neighboring stock markets.

The benchmark Shanghai Composite Index rose 0.34 percent, or 8.14 points, to close at 2,413.37. In Shenzhen, the market fell 0.45 percent, or 36.23 points, to close at 8,065.45.

Aggregate turnover further shrank to 40.56 billion yuan ($5.93 billion), from 52.65 billion yuan on the previous trading day.

Losses outnumbered gains by 410-378 in Shanghai and 321-320 in Shenzhen.

"There has been an increased wait-and-see atmosphere among investors as their hope for the government's market-boosting measures failed at the weekend,"said Nanjing Securities analyst Wen Lijun.