Chinese shares rise for second day Tuesday
Xinhua
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BEIJING, Aug. 21 (Xinhua) - Major Chinese stocks rose for a second consecutive day on Tuesday, as market sentiment rebounded after major indexes hit the lowest levels in more than two years on Friday.

The benchmark Shanghai Composite Index gained 1.31 percent at 2,733.83, following an increase of 1.11 percent on Monday.

The two-day rising streak came after the index hit the lowest closing since January 2016 on Friday.

The Shenzhen Component Index went up 1.6 percent to close at 8,549.06, also rising for the second trading day in a row. On Friday, the index closed at the lowest since November 2014.

Trading remained thin, with the combined turnover on the two bourses standing at 281 billion yuan (about 41 billion U.S. dollars), slightly up from the previous trading day.

Haitong Securities said that the market is still looking for its bottom at present, and fundamental change in market sentiment will not come until there are more signals including better liquidity condition.

Papermaking, medical appliances, and liquor sectors were the strongest on Tuesday, with their sub-indexes rising 4.53 percent, 4.15 percent, and 3.76 percent, respectively.

Yibin Paper Industry gained by the daily limit to end at 18.12 yuan. Anhui Gujing Distillery Company, a major Chinese liquor brand, rose 7.64 percent to close at 79.02 yuan.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 1.48 percent to close at 1,456.97 points.