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Chinese shares soar 3 pct after week-long holiday over global rises

2015-10-08 15:53

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Share prices on China's Shanghai and Shenzhen bourses opened sharply higher and kept strong throughout the day on the first trading day after the week-long National Day Holiday (October 1-7) tracking surges on global stock markets during the holiday.

For the whole day, the benchmark Shanghai Composite Index went up 2.97 percent to end at 3,143.36 points. The Shenzhen Composite Index soared four percent to end at 1,785.39. The SME Index for small firms rose 3.81 percent to end at 7,038.19 and the ChiNext Index jumped 5.17 percent to close at 2,190.31. Combined turnover of the two bourses expanded sharply to 587.62 billion yuan from 371.198 billion yuan on the previous trading day, showing that the market sentiment improved a lot.

An overwhelming majority of stocks closed higher on Thursday, led by software, public transport, internet, medical care, pharmaceutical, aviation, petroleum, nonferrous metals, environmental protection, automobile, electric power, property, securities brokerage and household electric appliances sectors. By concept, stocks related to electric vehicle charging ports posted biggest gains triggered by policy support on Thursday with the index tracking the block surging by nearly nine percent.

Those related to network safety and satellite navigation concepts also jumped remarkably. On the stock index futures market, the IF October contract rose 2.86 percent to end at 3,214.8, keeping a discount of 81.68 points to the underlying Hushen 300 Index, which went up 2.92 percent to close at 3,296.48. The SSE 50 October contract added 2.41 percent to end at 2,171.0, keeping a discount of 20.34 points to the underlying SSE 50 Index, which advanced 2.11 percent to close at 2,191.34. The CSI October contract jumped 4.63 percent to end at 6,195.2, keeping a discount of 177.29 points to the underlying CSI 500 stock index, which soared 4.06 percent to end at 6,372.49.

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