英语文摘:China shares gain for 3rd straight day amid increased inflation expectations

BEIJING, Nov. 8 (Xinhua) -- Chinese stocks rose for a third straight trading day Monday with the benchmark Shanghai Composite Index closing up 0.96 percent, or 30.01 points, at 3,159.51.

The Shenzhen Component Index gained 0.54 percent, or 73.94 points, to finish at 13,807.3.

Combined turnover declined to 453.1 billion yuan (68 billion U.S. dollars) from 459.17 billion yuan the previous trading day.

Gainers outnumbered losers 743 to 132 in Shanghai and 950 to 140 in Shenzhen.

Agricultural shares led the gains with a 5.39 percent rise amid increased inflation expectations and surging farm product prices.

Some economists believe China's consumer price index (CPI), the main gauge of inflation, jumped 4 percent year on year in October.

Yasheng Industrial Group, Yongan Forestry Group and Fengle Seed Company all rose by the daily limit of 10 percent, ending at 6.47 yuan, 12.84 yuan and 20.77 yuan, respectively.

Local stocks in Shanghai continued their surge after Walt Disney Co. inked a deal Friday for its long-awaited theme park in the city.

Shanghai Lujiazui Finance and Trade Zone Development Co., Ltd rose 4.8 percent to 22.7 yuan while Shanghai Pudong Road and Bridge Construction Co. Ltd. gained 3.08 percent to finish at 20.43 yuan.

Yu Wei, an analyst at Shiji Investment, said more "hot money" will flow into Chinese capital markets because of the U.S. Federal Reserve's second round of quantitative easing, QE2.

"As the government works on controlling inflation and the property market, the A-share market will be the most attractive place for 'hot money' inflows," he said.