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Chinese shares close higher Monday

BEIJING
2016-05-16 15:12

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Chinese stocks closed higher on Monday, despite lower-than-expected April economic data. 

The benchmark Shanghai Composite Index rose 0.84 percent to close at 2,850.86 points. 

The smaller Shenzhen index closed 1.55 percent higher at 9,910.08 points. 

​The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 1.61 percent to close at 2,057.86 points. 

Turnover rose to 360 billion yuan (55.13 billion U.S. dollars), compared with 347.43 billion yuan the previous trading day. 

Although data released over the weekend showed that China's investment, factory output and retail sales all grew more slowly than expected in April, its impact on stock market seems to have been limited. 

Non-ferrous metals led the rises, with the sub-index up 2.91 percent. Guangzhou-based Rising Nonferrous Metals Co. jumped 6.81 percent to end at 60.37 yuan. Lithium battery producers also rose across the board. Shandong Shida Shenghua Chemical Group rose by the 10-percent daily limit to 39.45 yuan.

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