Chinese shares close higher on Monday

Phenomenal
Phenomenal

Chinese stocks closed higher on Monday, with the benchmark Shanghai Composite Index up 0.4 per cent, at 2,942.19 points.

The Shenzhen Component Index closed 1.04 per cent higher at 9,309.42 points.

The combined turnover of stocks on the two exchanges stood at 422.44 billion yuan ($61.51 billion), expanding from 330.04 billion yuan in the previous trading day.

Most stocks rose, with gainers outnumbering losers by 1,045 to 341 on the Shanghai bourse and 1,522 to 560 in Shenzhen.

Companies in the sectors of aircraft manufacturing and shipbuilding were among the biggest gainers, with Guangzhou Hangxin Aviation Technology Co., Ltd.

Seeing its share price rise by the daily 10 per cent limit to 17.58 yuan, CSSC Science&Technology Co., Ltd. shares rose by 9.35 per cent to close at 16.03 yuan per share.

Shares related to liquor making led the losses, with shares of Qinghai Huzhu Barley Wine Co., Ltd. dropping 5.24 per cent to 12.65 yuan apiece.

The ChiNext Index, China’s NASDAQ-style board of growth enterprises, gained 1.94 per cent to close at 1,547.47 points.

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