Share prices on China's Shanghai and Shenzhen rallied sharply amid softer turnover on Monday with benchmark Shanghai Composite Index surging by nearly two percent led by bluechips. For the whole day, the benchmark Shanghai Composite Index soared 1.77 percent to end at 3,642.47 points. The Shenzhen Composite Index went up 0.96 percent to end at 2,357.99 points.
The index for small firms added 1.12 percent to end at 8,573.70, and the ChiNext Index dipped 0.01 percent to end at 2,829.92. Combined turnover of the two bourses shrank to 942.78 billion yuan from 958.9 billion yuan. Stocks of liquor brewing, banking, food and beverage, tourism, insurance, household electric appliances, pharmaceutical, agricultural, property, shipbuilding and coal sectors led the gainers while those in Internet, computer, software and household products led the losers.
On the stock index futures market, the IF January contract increased 2.7 percent to end at 3,800.2, keeping a discount of 65.76 points to the underlying Hushen 300 Index, which went up 2.6 percent to end at 3,865.96. The SSE 50 January contract rose 2.81 percent to end at 2,466.2, keeping a discount of 33.86 points to the underlying SSE 50 Index, which jumped 3.19 percent to close at 2,500.06. The CSI January contract advanced 1.76 percent to end at 7,585.0, keeping a discount of 203.56 points to the underlying CSI 500 stock index, which went up 1.16 percent to end at 7,788.56.
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