BUSINESS Chinese shares rally Tuesday

BUSINESS

Chinese shares rally Tuesday

Xinhua

17:35, March 10, 2020

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BEIJING, March 10 (Xinhua) -- Chinese shares rallied Tuesday despite the tumbling global stock market, with combined turnover surpassing one trillion yuan (about 144.1 billion U.S. dollars).

The benchmark Shanghai Composite Index gained 1.82 percent to end at 2,996.76 points, while the Shenzhen Component Index closed 2.65 percent higher at 11,403.47 points.

The combined turnover of stocks covered by the two indices stood at 1.08 trillion yuan, edging down from 1.09 trillion yuan the previous trading day.

Gainers outweighed losers by 1,234 to 236 on the Shanghai bourse and 1,822 to 340 in Shenzhen.

Boosted by government's call to quicken the development of 5G, shares related to the cutting-edge technology were among the biggest winners, with stocks of telecom equipment manufacturer Wanma Technology Co., Ltd. surging by the daily limit of 10 percent to 18.9 yuan per share.

Shares of mask producers led the losses Tuesday as market regulator took measures to stabilize market prices. Souyute Group Co., Ltd. saw its shares plunge 10 percent to 5.01 yuan per share.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 2.66 percent to close at 2,148.81 points.

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