Chinese shares gain 0.52%

BEIJING, June 8 -- Chinese shares rose for the first time after three consecutive declining days to close 0.52 percent higher on Monday.

The benchmark Shanghai Composite Index added 0.52 percent, or 14.45 points, to close at 2,768.34 points.

The Shenzhen Component Index went down 0.52 percent, or 55.36 points, to 10,611.75.

Combined turnover shrank to 210 billion yuan (about 31 billion U.S. dollars) Monday from 234.52 billion yuan on the previous trading day.

Over 600 individual shares rose, as the property shares led Monday¡¯s increase. China Vanke, the largest property developer by market value, grow 4.70 percent to 11.14 yuan, 5 stock soar by the daily limit, while 4 more gain over 5 percent.

The State Council, China's cabinet, publicized measures to boost biological industry, said an announcement posted on China's central government website last Friday, injected huge fluidity to the bio-medicine sector. Wuhan Mayinglong Pharmaceutical Group and Wohua pharmaceutical advanced by the daily maximum, three more shares gain over 4 percent.

Financial large-caps contributed to the index. China Construction Bank boost 5.79 percent to 5.12 yuan, Minsheng Bank up 5.78 percent to 7.69 yuan, with Bank of China rose 5.15 percent to 3.88 yuan.

China Minsheng Banking Co., Ltd. (600016.SH) announced Saturday that it plans to issue a maximum 3.32 billion new shares in Hong Kong, in an effort to raise capital for business expansion and invite in new foreign strategic investors. The bank said it will enhance its capital adequacy ratio through getting listed on the Hong Kong market.

Xinhua News Agency correspondents reporting from Beijing.

(Source: XHTV)