Share prices on China's Shanghai and Shenzhen stock exchanges posted strong gains and closed sharply higher on Thursday on improved market sentiment.
The benchmark Shanghai Composite Index surged 1.81 percent to end at 3,580.00 points. The Shenzhen Composite Index soared 2.72 percent to end at 2,342.18 points. The index for small firms jumped 2.01 percent to end at 8,512.47, and the ChiNext Index rose 2.63 percent to end at 2,835.70.
Combined turnover of the two bourses expanded to 996.3 billion yuan, from 728 billion yuan on the previous trading day. All listed sectors ended in the positive territory, led by logistics, property, steel, software services, computer equipment, telecom equipment, natural gas, mineral products, and daily chemicals sectors.
On the stock index futures market, the IF December contract surged 2.03 percent to end at 3,754.4, keeping a discount of 10.44 points to the underlying Hushen 300 Index, which increased 1.91 percent to end at 3,755.89. The SSE 50 December contract rose 1.17 percent to end at 2,403.6, keeping a discount of 4.72 points to the underlying SSE 50 Index, which surged 1.34 percent to close at 2,408.32.
The CSI December contract advanced 2.55 percent to end at 7,693.6, keeping a discount of 22.65 points to the underlying CSI 500 stock index, which soared 2.48 percent to end at 7,716.25. As December contracts are to expire on Friday, investors have begun to move their positions to the January contracts.
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