BUSINESS Chinese shares extend rally Friday

BUSINESS

Chinese shares extend rally Friday

Xinhua

16:22, September 06, 2019

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File photo: VCG

BEIJING, Sept. 6 (Xinhua) -- Chinese stocks closed higher on Friday, with the benchmark Shanghai Composite Index rising for the fifth day in a row.

The Shanghai Composite Index gained 0.46 percent to close at 2,999.6 points. The Shenzhen Component Index climbed 0.41 percent to 9,823.42 points.

The combined turnover of stocks in the two indices shrank to 634 billion yuan (about 89.5 billion U.S. dollars) from 797.5 billion yuan the previous trading day.

Gainers outnumbered losers by 794 to 576 on the Shanghai bourse and 1,206 to 824 in Shenzhen.

Auto makers staged strong gains, with Yangzhou Yaxing Motor Coach surging by the daily limit of 10 percent and Chongqing Changan Automobile going up 4.14 percent.

Companies in the 5G sector continued Thursday's upward trend. Kyland Technology rose by the daily limit of 10 percent, while ZTE Corporation jumped 9.27 percent.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 0.19 percent to close at 1,692.24 points Friday.  

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