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October 11, 2019

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Local stocks rise for 3rd straight day

Chinese stocks rose for a third consecutive day yesterday, with almost all sectors posting gains.

The benchmark Shanghai Composite Index picked up 0.78 percent to close at 2,947.71 points. The smaller Shenzhen Component Index jumped 1.38 percent to 9,638.1 points, while the blue-chip CSI300 index closed 0.82 percent higher at 3,874.64 points.

Turnover on the two major bourses topped 420.58 billion yuan (US$59.14 billion), compared with 365.8 billion yuan in the previous session.

Stocks of 62 companies listed on the A-share markets skyrocketed by the 10 percent daily cap.

The agriculture, forestry, animal husbandry and fishery sector extended its rally to lead the gains, with Wind Information’s sub-index for this sector soaring 2.89 percent. Muyuan Foods Co surged 7.91 percent, while Tecon Biology Co and Shandong Yisheng Livestock & Poultry Breeding Co both rose over 5 percent.

Pharmaceutical shares were also among the biggest gainers, with stocks of four A-share listed companies — Baotou Dongbao Bio-Tech Co, Shenyang Xingqi Pharmaceutical Co, Hangzhou Tigermed Consulting Co and Shenzhen Kangtai Biological Products Co — all jumping by the daily limit

Meanwhile, communication companies, computer firms, transportation shares and the electronic component sector all saw robust gains as well.


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