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Chinese Shares Rebound On Tuesday
 

Chinese stocks rebounded Tuesday, led by strong performance of high-tech shares, after the major index hit a three-month low yesterday.

The benchmark Shanghai Composite Index edged up 0.34 percent to close at 3,333.66 points, while the Shenzhen Component Index closed 1.25 percent higher at 11,091.14 points.

Combined turnover on the two bourses stood at 371.4 billion yuan (about 56.3 billion U.S. dollars), down from 431.4 billion yuan the previous trading day.

The high-tech sector, especially computer chip makers, led Tuesday's rebound. Shares of nine chip producers, including Unigroup Guoxin and Hangzhou Silan Microelectronics, rose by the daily limit of 10 percent.

Stocks related to 5G technology were also among the biggest winners. Beijing Miteno Communication Technology and Zhong Fu Tong Co., Ltd. both jumped by the daily limit of 10 percent to 38.72 yuan and 37.05 yuan, respectively.

BGI Genomics, a gene sequencing firm that was listed on the Shenzhen Stock Exchange in mid-July, rebounded 6.76 percent to 203.7 yuan after three consecutive losses.

Financial shares declined Tuesday with the Industrial and Commercial Bank of China (ICBC), the country's largest lender by market value, dropping 1 percent to 5.92 yuan.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 1.87 percent to close at 1,793.87 points.


(www.chinaview.cn 2017-11-29)
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