Sun, 09 Aug 2020

1st LD-Writethru: Chinese shares surge Monday

Xinhua
13 Jul 2020, 18:51 GMT+10

BEIJING, July 13 (Xinhua) -- Chinese shares rocketed Monday while the market sentiment ran high.

The benchmark Shanghai Composite Index rose 1.77 percent to end at 3,443.29 points, while the Shenzhen Component Index closed 3.5 percent higher at 14,149.14 points.

The combined turnover of stocks covered by the two indices further expanded to a total of 1.67 trillion yuan (about 238.69 billion U.S. dollars), up from 1.62 trillion yuan on the previous trading day.

Gainers overwhelmed losers on both the Shanghai and Shenzhen bourses, where nearly 250 companies saw their shares hiking by the daily limit of 10 percent.

Shares related to agricultural cultivation, pork and water conservancy led the gains, with shares of Wanxiang Doneed Co., Ltd., a high-tech seed provider, surging by the daily limit of 10 percent to 15.02 yuan.

Meanwhile, water pipe manufacturer Ningxia Qinglong Pipes Industry Co., Ltd saw its shares rise 10.03 percent to 13.82 yuan per share, as the country vows to advance the construction of 150 new major water conservancy projects.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, surged 3.99 percent to close at 2,889.43 points Monday.

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