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Chinese shares rebound sharply Thu, led by small caps

2015-11-19 15:38

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After several days of corrections, share prices on China's Shanghai and Shenzhen stock bourses rebounded from Thursday noon and closed sharply higher as small-caps, especially those listed on the ChiNext board posted strong gains of more than 4 percent.

For the whole day, the benchmark Shanghai Composite Index gained 1.36 percent to end at 3,617.06 points. The Shenzhen Composite Index soared 3.07 percent to end at 2,257.21 points. The index for small firms jumped 3.05 percent to end at 8,519.07 and the ChiNext Index rocketed 4.12 percent to end at 2,770.75. Combined turnover of the two bourses shrank to 859.8 billion yuan from 943.1 billion yuan on the previous trading day.

All listed sectors ended in the positive territory, led by semiconductor, internet, software services, media and entertainment, computer equipment, telecom equipment, mineral products and medical treatment sectors.

On the stock index futures market, the IF November contract surged 1.85 percent to end at 3,775.0, reversing to a premium of 0.03 points over the underlying Hushen 300 Index, which soared 1.60 percent to end at 3,774.97. The SSE 50 November contract increased 1.57 percent to end at 2,474.6, reversing to a premium of 6.11 points over the underlying SSE 50 Index, which rose 1.19 percent to close at 2,468.49.

The CSI November contract jumped 2.41 percent to end at 7,697.0, keeping a discount of 21.62 points to the underlying CSI 500 stock index, which surged 2.55 percent to end at 7,718.62. As November contracts are to expire on Friday, investors have moved majority of their positions to the December contracts, which also saw sharp gains on Thursday.

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