Chinese share prices hit new high on Thursday as the benchmark Shanghai Composite Index closed at 5,032.49 points, the first time above the 5,000-point mark.

The benchmark Shanghai Composite Index went up 1.05 percent or 52.42 points to conclude at 5,032.49 points on a transaction volume of 153.37 billion yuan (US$20 billion).

The index, which covers A and B shares traded on the Shanghai Stock Exchange, opened at 5002.84 points, up 22.76 points or 0.46 percent, from the previous close.

The Shenzhen Component Index on the smaller Shenzhen stock market rose 1.77 percent or 307.23 points to close at 17,639.22 points on a business turnover of 91.38 billion yuan.

The combined turnover of the two bourses shrank to 244.8 billion yuan from 261.8 billion yuan on Wednesday with 870 gainers and 655 losers.

(Xinhua News Agency August 23, 2007)