Chinese stocks gain Friday

Chinese shares gained Friday, with the benchmark Shanghai Composite Index up 0.22 percent, or 5.09 points, to end at 2,307.33 points. The Shenzhen Component Index gained 0.79 percent, or 77.16 points, to close at 9,786.19. Total turnover on the two bourses shrank to 129.59 billion yuan (20.57 billion U.S. dollars) from 136.34 billion yuan the previous trading day. Gainers outnumbered losers by 589 to 279 in Shanghai, and by 926 to 418 in Shenzhen. Distillers led the rise. Hai Nan Yedao (Group) Co., Ltd. rose 5.53 percent to 10.31 yuan per share. Luzhou Lao Jiao Co., Ltd. climbed 4.3 percent to 42.91 yuan. Brokerages continued to rise following the news that the China Securities Regulatory Commission had increased quotas for Qualified Foreign Institutional Investors to 80 billion U.S. dollars from 30 billion U.S. dollars. Sealand Securities Co. Ltd. soared 8.32 percent to 18.88 yuan. Changjiang Securities Company Limited gained 2.22 percent to 9.2 yuan. Shipbuilding companies bucked the trend by recording small losses. China Shipbuilding Industry Company Limited dropped 1.03 percent to 5.77 yuan. Guangzhou Shipyard International Company Limited dipped 1.02 percent to 15.56 yuan.