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May 17, 2019

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Stocks edge up on policy expectations

China stocks edged up as supportive policies were expected to prop up the country’s economy amid external uncertainties.

The benchmark Shanghai Composite Index was up 0.58 percent to end at 2,955.71 points. The Shenzhen Component Index added 0.37 percent to close at 9,293.32 points, while the CSI300 index rose 0.45 percent to 3,743.96 points.

Turnover on the two major bourses totaled 512.8 billion yuan (US$74.5 billion), compared with the 512.7 billion yuan in the previous trading session.

Shares in industrial sectors posted more gains than declines while shares in the agriculture industry continued their strong performance.

Shares in Beijing Jingyuntong Technology Co Ltd and Ningbo Yunsheng Co Ltd jumped by the daily cap of 10 percent.

Meanwhile, shares of Huawei suppliers took a nosedive after the Trump administration hit the telecom giant with sanctions on Wednesday.


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