1st LD-Writethru: Chinese shares close higher on strong cyclicals

BEIJING, Dec. 28 (Xinhua) -- Chinese stocks rebounded Thursday as cyclical stocks and distilleries propped up major indices.

Despite opening lower, the benchmark Shanghai Composite Index went up 0.63 percent to finish at 3,296.38 points. The Shenzhen Component Index rose 0.58 percent to 10,974.01 points.

Combined turnover on the two bourses stood at around 424.31 billion yuan (64.87 billion U.S. dollars), up from 410.1 billion yuan the previous day.

Cyclical shares including non-ferrous metals, steel and coal posted stellar performance. Zijin Mining Group surged by the 10-percent daily changing limit to 4.69 yuan, while China Shenhua Energy Company, a leading coal miner, gained 1.17 percent to 23.37 yuan.

Distilleries also rallied, with the sub-index up 5.16 percent. Liquor producer Kweichow Moutai jumped 8.21 percent to 718.69 yuan after the company predicted a 50-percent increase in revenue this year and announced price hikes.

Sectors including glass-making, media and entertainment, and non-banking finance also rose.

Growth companies suffered. China's NASDAQ-style ChiNext Index edged down 0.01 percent to 1,745.02 points. Enditem