BUSINESS Chinese shares rally Wednesday

BUSINESS

Chinese shares rally Wednesday

Xinhua

17:14, July 24, 2019

BEIJING, July 24 (Xinhua) -- Major Chinese stock indices, led by gainers in the sci-tech sector, ended higher Wednesday, with the benchmark Shanghai Composite Index up 0.8 percent to 2,923.28 points.

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File photo: VCG

The Shenzhen Component Index closed 0.99 percent higher at 9,266.3 points.

The combined turnover of stocks on the two exchanges stood at 400.3 billion yuan (about 58.1 billion U.S. dollars), expanding from 323.25 billion yuan in the previous trading day.

Most stocks rose, with gainers outnumbering losers by 1,250 to 206 on the Shanghai bourse and 1,844 to 267 in Shenzhen.

Stocks in sectors of consumer electronics and military industry led the gain, with multiple shares rising above the 10-percent daily limit. Shares of Suzhou Dongshan Precision Manufacturing Co. Ltd., a tech components provider, climbed 10.03 percent to finish at 15.79 yuan per share.

Bucking the trend, liquor makers were among the biggest losers, with shares of Kweichow Moutai edging down 0.8 percent to finish at 946.7 yuan apiece.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 1.22 percent to close at 1,553.72 points.

Shares on China's sci-tech innovation board (STAR) surged Wednesday, with the first batch of 25 firms shares rising 11.39 percent on average. 

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