China Petroleum & Chemical Corp, also known as Sinopec, the country's biggest oil refiner, added 2.97 percent to 11.43 yuan. PetroChina, the country's second-largest refiner and the biggest stock on the index based on market capitalization, increased 1.25 percent to 15.40 yuan.
Air China, the country's largest carrier by market value, jumped 2.43 percent to 10.98 yuan. China Southern Airlines Co, the largest by fleet size, jumped 2.05 percent to 8.46 yuan. China Eastern Airlines Co rebounded from the morning session's loss and gained 1.54 percent to 7.89 yuan. Shanghai Airlines Co also edged up 0.91 percent to 6.62 yuan.
China Eastern Airlines Corp, the nation's third-largest carrier by fleet size, denied a magazine report saying government regulators are discussing a possible merger of the company with Shanghai Airlines Co.
Elsewhere, Minmetals Development Co, the unit of China's biggest state-owned metals trader, jumped 6.47 percent to 25.52 yuan. It said its first-half profit more than tripled on acquisitions, increased sales and higher margins. Net income jumped more than 200 percent from 385 million yuan a year earlier, it said in a preliminary earnings statement.
Guangdong Midea Electric Appliances Co, China's second-biggest publicly traded appliance maker, lost 1.02 percent to 12.60 yuan. The company said it won approval from the China Securities Regulatory Commission to raise 3.56 billion yuan in an additional share offering.
(Shanghai Daily July 24, 2008)
