After mild retreat on Wednesday, share prices on China's Shanghai and Shenzhen bourses regained their rising momentum amid expanding turnover on Thursday, to close at fresh highs in the latest rebound run since late September.
For the whole day, the benchmark Shanghai Composite Index rose 2.32 percent to end at 3,338.07 points. The Shenzhen Composite Index surged 3.03 percent to end at 1,941.28. The SME Index for small firms went up 3.09 percent to end at 7,628.35 and the ChiNext Index soared 4.32 percent to close at 2,404.53. Combined turnover of the two bourses expanded to 825.86 billion yuan from 769.14 billion yuan on the previous trading day.
More than 90 percent of listed stocks closed in the positive territory on Thursday, with leading gainers in internet, software, aviation, telecom operation, mineral products, public transport, papermaking, chemical fiber, computer, automobile, logistics, electric power, environmental protection, property and agricultural sectors.
Stocks related to online lottery selling sector shot up remarkably on Thursday after the State Council, China's cabinet, announced on Wednesday the removal of administrative approvals for schemes on lottery selling in all provinces throughout the country and award distribution of lottery selling institutions.
The index tracking the block jumped six percent. On the stock index futures market, the IF October contract rose 3.11 percent to end at 3,493.8, reversing to a premium of 6.99 points over the underlying Hushen 300 Index, which added 2.37 percent to close at 3,486.81. The SSE 50 October contract rose 2.18 percent to end at 2,297.0, keeping a discount of 0.9 points to the underlying SSE 50 Index, which advanced 1.95 percent to close at 2,297.90. The CSI October contract surged 4.37 percent to end at 6,954.8, reversing to a premium of 25.56 points over the underlying CSI 500 stock index, which gained 3.04 percent to end at 6,929.24. As the October contracts are to expire on Friday, investors have moved the majority of their positions to the November contracts, which posted greater gains on Thursday.
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