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June 19, 2019

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Shares flat but AI-linked firms boosted

China’s A-share markets closed flat yesterday, with AI-related companies posting a strong performance in afternoon trading, thanks to favorable news that Shanghai is making roadmaps for artificial intelligence industries.

The benchmark Shanghai Composite Index advanced by 0.09 percent, or 2.54 points to finish at 2,890.16 after a volatile day.

The smaller Shenzhen Component Index edged up 0.27 percent to end at around 8,804.32 points, while the ChiNext Index jumped by 0.93 percent to finish at 1,455.75 points.

The combined turnover of the two bourses came to 321.7 billion yuan (US$45.35 billion), less than the previous trading day’s figure of 335.7 billion yuan.

Farming, fishing and forestry equities reversed their losses the day before and led the gainers yesterday.

Stocks on the theme of rejuvenating northeast China saw strong gains after the opening hour, as investors were lifted by news that President Xi Jinping will pay a two-day state visit to the Democratic People’s Republic of Korea starting tomorrow.

Shares of Jilin Expressway Co Ltd and Changbai Mountain Tourism Co Ltd rose by the daily 10 percent cap.


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