BUSINESS Chinese shares close higher Thursday

BUSINESS

Chinese shares close higher Thursday

Xinhua

15:25, August 22, 2019

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File photo: VCG

BEIJING, Aug. 22 (Xinhua) -- Chinese shares closed higher on Thursday, with the benchmark Shanghai Composite Index up 0.11 percent, at 2,883.44 points.

The Shenzhen Component Index closed 0.3 percent higher at 9,350.56 points.

The combined turnover of stocks on the two exchanges stood at 440.2 billion yuan (about 62.5 billion U.S. dollars), shrinking from 454.5 billion yuan the previous trading day.

Gainers outnumbered losers by 728 to 637 on the Shanghai bourse and 1,254 to 778 in Shenzhen.

Stocks in new energy vehicles were among the biggest winners with shares of Zhongtong Bus Holding Co. Ltd. rising by the daily limit of 10 percent to finish at 7 yuan apiece.

Companies related to the pork sector also posted robust performance in the wake of the State Council's decision on Wednesday to step up efforts to stabilize hog production and ensure pork supply following the effects of African swine fever on the industry.

Subsidies to farms with culled pigs will be dispensed more timely, and major hog producers and farm owners will receive more support in expanding their herds.

Shandong Longda Meat Foodstuff Co. Ltd. gained 1.89 percent to finish at 9.17 yuan per share.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, expanded 0.23 percent to close at 1,613.46 points.

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