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Chinese Shares Close Higher Wednesday-Oct 18
 

Chinese stocks closed higher on Wednesday, with the benchmark Shanghai Composite Index up 0.29 percent, at 3,381.79 points.

The Shenzhen Component Index closed 0.07 percent higher at 11,282.75 points.

Combined turnover on the two bourses stood at 442.1 billion yuan (about 66.78 billion U.S. dollars), up from 389.6 billion yuan the previous trading day.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, lost 0.47 percent to close at 1,868.16 points.

Stocks related to home-rental services were among the largest gainers of the day, after a report delivered at the opening of the 19th National Congress of the Communist Party of China promised to encourage both home purchase and renting to meet housing demand.

Everyday Network Co., Ltd, an online real estate service provider, rose by the daily limit of 10 percent to 25.76 yuan. Shenzhen Worldunion Properties Consultancy Incorporated jumped 8.19 percent to 12.95 yuan.

Heavyweight stocks were also a strong support to Wednesday's market. PetroChina, one of the country's oil giants, went up 2.48 percent to 8.25 yuan, while the Industrial and Commercial Bank of China (ICBC), the country's largest lender by market value, gained 2.11 percent to 6.28 yuan.

Resource stocks like coal, steel and non-ferrous metal remained weak. Xinjiang Bayi Iron & Steel lost 8.14 percent to 13.99 yuan, and Yunnan Aluminum dropped 5.95 percent to 12.02 yuan.


(www.chinaview.cn 2017-10-19)
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