Chinese shares staged a rally on Thursday, with turnover swelling. The benchmark Shanghai Composite Index surged 1.53 percent to 2,781.02 points while the smaller Shenzhen index gained 1.6 percent to close at 9,793.07 points. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, climbed 1.73 percent to close at 2,126.64 points.
The ChiNext Index maintained Wednesday's momentum and saw the most remarkable gain among all indexes. Total turnover on the two bourses increased, standing at 441.94 billion yuan (67.56 billion U.S. dollars), up from 375.94 billion yuan in the previous trading day. Over 100 stocks rose by the daily limit of 10 percent, while only 90 stocks declined during the day's trading.
Gains were spread across all sectors, with the sub-indexes related to textiles, non-ferrous metals and plastic leading the charge. Financial heavyweights shook off Wednesday's heavy losses and regained on Thursday, though this remains one of the worst sectors compared with the more remarkable performance exhibited by other industries.
CITIC Securities, China's largest brokerage, surged 1.11 percent and closed at 14.63 yuan, while China Construction Bank gained 0.64 percent to close at 4.71 yuan. Market sentiment improved on Thursday morning as the benchmark Shanghai Composite Index remained beyond the 2,700-point mark for two consecutive trading days. Both the Shanghai and Shenzhen indexes remained firmly in positive territory during the whole day's trading after opening high.
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