Chinese shares close up 0.61 percent

Chinese share prices closed up 0.61 percent on Friday led by financial stocks as investors were keen to pick up oversold stocks due to strong profits forecasts, dealers said.

They said financials remained in focus after the China Merchants Bank announced that it expected first quarter net profit to rise by around 140 percent over the same period the previous year.

The benchmark Shanghai Composite Index, which covers A and B shares, closed up 21.15 points at 3,492.89 on turnover of 59.0 billion yuan (8.4 billion dollars).

The Shanghai A-share Index rose 22.19 points or 0.61 percent to 3,664.84 on turnover of 58.7 billion yuan. The Shenzhen A-share Index was up 10.55 points or 0.94 percent at 1,130.88 on turnover of 29.5 billion yuan.

(Agencies)