BUSINESS Chinese shares close higher Thursday, lifted by financials

BUSINESS

Chinese shares close higher Thursday, lifted by financials

Xinhua

19:13, June 20, 2019

BEIJING, June 20 (Xinhua) -- Major indices of China's stock market closed higher Thursday, led by a strong performance of the financial sector.

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(Photo: VCG)

The benchmark Shanghai Composite Index rose 2.38 percent to 2,987.12 points while the Shenzhen Component Index closed 2.34 percent higher at 9,134.96 points.

Trading continued to expand, with the combined turnover in the two indices standing at 602.9 billion yuan (about $87.6 billion), rising from 504 billion yuan the previous trading day.

The financial sector led the gains, with a robust performance of brokerages and banking.

Brokerage firms such as China Securities Co., Ltd. and Chinalin Securities Co., Ltd. jumped by the daily 10-percent limit to close at 22.3 yuan and 17.16 yuan, respectively. Jiangsu Zijin Rural Commercial Bank Co., Ltd. surged by the daily limit of 10 percent while Ping An Bank Co., Ltd. rose by about 6 percent.

Stocks related to environmental protection were also among the bellwethers. Dynagreen Environmental Protection Group Co., Ltd., a garbage treatment company, soared by the daily limit of 10 percent to end at 11.83 yuan.

The rally of garbage treatment-related stocks came amid China's increasing efforts on environmental protection by enhancing garbage sorting and treatment regulation and supervision recently.

China passed a draft law for curbing solid waste pollution at a State Council meeting early this June, which called for the establishment of the system for household garbage sorting, collection, transport and treatment.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 1.91 percent to close at 1,498.01 points on Thursday. 

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