China's stocks close mixed Wednesday
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Chinese stocks closed mixed Wednesday with the benchmark Shanghai Composite Index closing up 0.12 percent, or 3.27 points, at 2,823.45.
The Shenzhen Component Index lost 0.21 percent, or 25.9 points, to finish at 12,310.38.
Combined turnover shrank from Tuesday's 334.3 billion yuan (50.1 billion U.S. dollars) to 200.5 billion yuan.
Nonferrous metal miners and energy companies led the rise.
Zijin Mining Group Co., China's largest gold producer, rose 2.2 percent to 8.37 yuan per share. Dalian Thermal Power Co., Ltd. rose by the daily limit of 10 percent to hit 13.05 yuan.
Automakers and medical-equipment producers retreated.
Zhengzhou Yutong Bus Co., Ltd. slid 3.24 percent to 21.17 yuan while Beijing Wandong Medical Equipment Co., Ltd. dropped 3.89 percent to 17.79 yuan.
The Purchasing Managers Index (PMI) of China's manufacturing sector rose to 55.2 percent in November, up 0.5 percentage points from October, the China Federation of Logistics and Purchasing (CFLP) said Wednesday.
It was the fourth consecutive monthly increase and the 21st month in a row the index was above 50 percent, suggesting economic expansion.
The November PMI was better than expected but indicated inflationary pressures, said Bohai Securities analyst Du Zhengzheng.
UBS Securities economist Wang Tao expects China's consumer price index (CPI) increases to remain "controllable" in 2011 with a rise of between 4 to 4.5 percent over the year.
China's CPI rose to a 25-month high of 4.4 percent in October. China's November economic data, including CPI, industrial production and fixed asset investment, is due for release on Decembe
