BEIJING, May 16 (Xinhua) -- Chinese stocks closed higher on Thursday, with the benchmark Shanghai Composite Index up 0.58 percent, at 2,955.71.

(File photo: VCG)

The Shenzhen Component Index closed 0.37 percent higher at 9,293.32.

Combined trading volume of the two indices stood at 522.21 billion yuan (around 76.03 billion US dollars), expanding from 512.8 billion yuan the previous trading day.

Gainers outnumbered losers by 1,024 to 365 on the Shanghai bourse, and 1,327 to 719 in Shenzhen.

Companies in the industries of rare earth permanent magnets and glyphosate were among the biggest gainers.

China Minmetals Rare Earth Co. Ltd. saw its share price rise by the daily 10 percent limit to 13.29 yuan a share.

Jiangsu Huifeng Bio Agriculture Co. Ltd. saw its share price rise by the daily 10 percent limit to 3.63 yuan a share.

Companies in communication services and agriculture services led the losses.

The ChiNext Index, China's NASDAQ-style board, gained 0.33 percent to close at 1,533.67.