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Chinese Shares Close Higher Friday-Sep 1
 

Chinese stocks closed higher on Friday, with the benchmark Shanghai Composite Index up 0.19 percent to 3,367.12 points.

The Shenzhen Component Index closed 0.59 percent higher at 10,880.56 points.

Combined turnover on the two bourses rose to 640.9 billion yuan (about 97.2 billion U.S. dollars) from 545.9 billion yuan the previous trading day.

Shares related to bike sharing and air transportation experienced the largest drops.

Coal, iron and steel stocks bucked the trend. China Shenhua Energy Co., Ltd soared by the daily limit to 21.25 yuan. Anyang Iron and Steel Group Co., Ltd. also increased by the daily limit to 5.21 yuan.

The stock market has been bullish this week, holding firmly above the 3,300-point mark, a level previously seen as strong resistance.

The Shanghai index dropped 0.08 percent and 0.05 percent to close at 3,360.81 points and 3,363.63 points respectively on Thursday and Wednesday, following a 0.08-percent rise on Tuesday and a 0.93-percent increase on Monday.

Before last Friday's close at 3,331.52, the index had not closed above 3,300 points since Dec. 31, 2015.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 0.86 percent to close at 1,865.25 points.


(www.chinaview.cn 2017-09-04)
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