Chinese shares close up 2.17 percent

Chinese share prices closed up 2.17 percent on Thursday, led by telecom stocks, amid expectations that the country will speed up the restructuring of the industry this month, dealers said.

They said the gains in the telecom sector pushed up the key index in Shanghai, while coal miners also surged after oil prices in New York rocketed to close at a record 123.53 dollars a barrel overnight.

The benchmark Shanghai Composite Index, which covers A and B shares, closed up 77.69 points at 3,656.84 on turnover of 108.8 billion yuan (15.5 billion dollars).

The Shanghai A-share Index was up 81.43 points or 2.17 percent to 3,837.08 on turnover of 108.4 billion yuan. The Shenzhen A-share Index added 30.43 points or 2.70 percent to 1,158.00 on turnover of 44.8 billion yuan.

(Agencies)