Chinese equities ended slightly higher in the morning trading on Monday, with the key Shanghai index adding 0.43 percent.
The benchmark Shanghai Composite Index, which covers both A and B shares, finished the morning session at 1,994.91 points, up 0.43 percent. The Shenzhen Component Index was down 0.11 percent to 6,653.04.
The key Shanghai index opened slightly lower, by 0.26 percent, at 1,981.26, following a heavy loss on the Wall Street on Friday, with the Dow Jones Industrial Average plunging 3.82 percent to 8,497.31.
The index soon went on a rollercoaster ride around the 2,000 point mark on jitters over the economy, analysts said.
Airlines gained across the board, boosted by talks of the government's capital injection plan.
The government is set to inject 3 billion yuan (US$439.2 million) each into China Eastern Airlines and China Southern Airlines to help them go through difficulties amid slowing market demand, Monday's China Securities News reported.
China Eastern Airlines jumped by the daily limit of 10 percent to 3.85 yuan and China Southern Airlines rose 9.88 percent to 3.67 yuan. Hainan Airlines and Shanghai Airlines grew by 10 percent to 3.39 yuan and 4.29 yuan, respectively.
Stocks of electric transmission and distribution equipment producers went higher as investors bet on the increasing grid construction investment would boost the sector.
Shares of both Northeast Electric Development Company and Clou Electronics surged by the daily 10 percent limit to 2.28 yuan and 11.47 yuan, respectively. The Xuji Electric Co. added 8.31 percent to 8.34 yuan.
(Xinhua News Agency November 17, 2008)
