SHANGHAI B shares firmed yesterday, as overseas funds moved into the market after the sharp fall on Monday. Increased orders from abroad pushed the Credit Lyonnais Shanghai B index to 908.66 points, up 3.45 points or 0.38 per cent on the day. A broker at Shanghai Shenyin Securities said that while funds had taken up positions, the purchases were selective. ''Investors bought into some cheaper stocks and the smaller-sized stocks for quick gains,'' he said. Among the biggest gainers were Shanghai Chlor-Alkali and Dazhong Taxi. Chlor-Alkali, which has just announced a four-for-10 rights issue to finance the expansion of its production facilities, put on 9.1 per cent to close at 35.8 US cents. Dazhong, an investor favourite, gained 7.1 per cent to finish at $1.20. Stock exchange newcomer Shangling fell 0.6 cent to 74.4 cents in the second day of trade, although the refrigerator manufacturer was the most active stock of the day. Some 2.4 million shares were traded. Shanghai Erfangji, whose B shares are also traded through level-one American depository receipts facility in the United States, was the day's biggest loser. It shed 4.1 per cent to 61 cents. Overall turnover in B shares totalled 10.6 million units.
