Home > News Updates > Financial News > Securities
Chinese Shares Close Higher-Sep 29
 

Chinese stocks closed higher Friday, but trading was still soft ahead of a week-long trading suspension during the upcoming National Day and Mid-Autumn Festival holidays starting on Oct. 1.

The benchmark Shanghai Composite Index went up 0.28 percent to 3,348.94 points, and the Shenzhen Component Index closed 0.51 percent higher at 11,087.19 points.

Total turnover on the two bourses stood at 434.37 billion yuan (about 65.16 billion U.S. dollars), down from 441 billion yuan on the previous trading day.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 0.66 percent to close at 1,866.98 points.

For September, the Shanghai Composite Index ended three consecutive monthly rises by dropping slightly by 0.35 percent.

Stocks related to 5G technology and new energy vehicles (NEV) led Friday's rise. Telecommunications companies, including Zhongtong Guomai Communication Co., Ltd. and Guangdong Shenglu Telecommunication Tech Co., Ltd., rose by the daily limit of 10 percent.

China on Thursday unveiled measures to grade the performance of automakers and auto importers in terms of emissions reduction and NEV production, which gave a strong boost to the NEV sector.

Anhui Ankai Automobile Co., Ltd., a producer of new energy coaches, surged by the daily limit of 10 percent to 10.52 yuan. FAW Car Co., a branch of state-owned FAW Group, climbed 5.68 percent to 13.76 yuan.


(www.chinaview.cn 2017-09-30)
Close