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Chinese shares boosted by energy, clean-tech shares

(Xinhua)
Updated: 2009-11-16 10:54

BEIJING: Chinese shares opened higher to climb above the psychological mark of 3,200 on Monday, boosted by energy and environment and clean-tech shares.

Related readings:  Obama arrives in Shanghai for state visit  Obama kicks off first visit to China  Chinese shares rise slightly to end week  Positive data drive Chinese shares open higher

The benchmark Shanghai Composite Index rose 0.59 percent to open at 3,206.43 points. The Shenzhen Component Index climbed 0.68 percent to open at 13,354.17 points.

Analysts regarded the higher opening as a response to US President Barack Obama's first state visit to China, which started Sunday night.

Energy, environment and clean-tech shares surged 4.36 percent as climate change and new energy development will be an important topic during Obama's visit, they said.

Zhejiang Feida Environmental Protection Technology Co Ltd rose to the daily limit of 10 percent to 15.9 yuan.

Shares related to the planned Disneyland Project also went strong as Obama kicked off his first China visit in Shanghai. Shanghai Lujiazui Finance&Trade Zone Development Co Ltd rose nearly 2 percent to 29.5 yuan as of 10:00.