SHANGHAI, Oct. 8 (UPI) -- Stocks in China soared Friday, pushing shares to a five-month high during an active trading day propelled by gains in precious and utility metals.
Gold prices have hit record highs this week, reaching $1,342.30 per ounce Friday in New York. Reflecting the gain and expectations the price will rise through the end of the year, shares in China's largest gold producer, Zijin Mining Group, rose 10 percent. Shandong Gold Mining shares also rose 10 percent, the daily limit allowed in Shanghai.
The Shanghai composite index added 3.13 percent, 83.09 points, to 2,738.74. The Shenzhen Component Index added 3.86 percent, 442.83 points, to 11,911.37, Xinhua reported.
With the price of copper rising to $8,326 per metric ton on the London Metal Exchange, Jiangxi Copper Co. shares rose 9.9 percent and Yunnan Copper Co. shares gained 9 percent. Shares of coal-producer China Shenhua Energy Co. rose 9.28 percent. PetroChina Co. shares rose 2.85 percent.
