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September 30, 2020

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Shipbuilding, aerospace boost stocks

China stocks rose yesterday, led by the shipbuilding and aerospace industries.

The benchmark Shanghai Composite Index closed 0.21 percent higher at 3,224.36 points.

The smaller Shenzhen Component Index advanced 1.10 percent to 12,900.70 points.

The blue chip CSI300 Index increased 0.22 percent to 4,591.80 points.

And the ChiNext Composite Index startup board advanced 1.67 percent to 2,563.38 points.

Turnover on the two major bourses shrank to 545 billion yuan (US$79.74 billion).

That was about a third of July’s highest turnover of 1.7 trillion yuan.

“Investors are taking a wait-and-see attitude before the upcoming national holidays as geopolitics and other uncertainties still weigh on,” said Haitong Securities in a note.


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