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Coal counters rise in Shanghai stock trade
SHANGHAI stocks gained, with the benchmark Shanghai Composite Index rising 0.35 percent to 2315.93 points today, helped by surging coal shares.
The Ministry of Land and Resources resumed today the application for exploration in new coal mines as a way to sustain growth in the coal market.
The central government has also issued new regulations to raise the standards in the coal quality, which will help restrain import of unqualified coals. The act may help Chinese coal companies secure more market shares.
Sdic Xinji Energy was up 6.93 percent to 4.32 yuan (71 US cents), Henan Dayou Energy rose 5.01 percent to 6.50 yuan, while Shanxi Antai gained 3.82 percent to 3.53 yuan.
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