BUSINESS Chinese shares open higher Monday


Chinese shares open higher Monday


09:59, February 25, 2019

BEIJING, Feb. 25 (Xinhua) -- Chinese stocks opened higher on Monday, with the benchmark Shanghai Composite Index up 1.22 percent to open at 2,838.39 points.


File photo: VCG

The Shenzhen Component Index opened 1.78 percent higher at 8,804.97 points.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, was up 2.13 percent to open at 1,487.3 points.

The ChiNext Index, together with the Shenzhen Component Index and the Shenzhen SME (small- and medium-sized enterprises) Board Index, are major indices reflecting the performance of stocks listed on the Shenzhen Stock Exchange.

Hong Kong stocks gained 159.22 points, or 0.55 percent, to open at 28,975.52 points.

The gold price in Hong Kong went up HK$50 to open at $12,460 ($1,587.26) per tael on Monday, according to the Chinese Gold and Silver Exchange Society. 

Meanwhile, China's Hushen 300 index futures opened higher on Monday, with the contract for settlement in March 2019 up 2.13 percent to open at 3,584.4 points.

The April contract opened 2.28 percent higher at 3,594 points. The June contract opened 2.26 percent higher at 3,589.6 points. The September contract opened 2.12 percent higher at 3,570 points.

The stock-index contracts, agreements to buy or sell the blue-chip Hushen 300 Index at a preset value on an agreed date, are designed to allow investors to bet on and profit from either gains or declines in the market.

The index futures were launched at the China Financial Futures Exchange and started trading from April 16, 2010. The CFFEX has set the base value for all the four contracts at 3,399 points. 

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