Chinese shares rally before release of major data

Source: Xinhua | October 18, 2016, Tuesday |

Online Edition

CHINESE stocks rallied Tuesday, ahead of the release of the country's quarterly growth data.

The benchmark Shanghai Composite Index gained 1.40 percent to end at 3,083.88 points. The Shenzhen index closed 1.37 percent higher at 10,797.02 points.

The ChiNext Index, China's NASDAQ-style enterprises, rose 1.40 percent to close at 2,198.14 points.

Turnover stood at 483.42 billion yuan (around US$71.83 billion).

Most stocks gained, with gainers outnumbering decliners 1,010 to 41, on the Shanghai exchange, and 1,568 to 76 in Shenzhen.

Shares of brokerages rose across the board and led the gains. Shares of Citic Securities, China's largest brokerage, rose 2.53 percent to 16.63 yuan. GF Securities climbed 3.05 percent to 16.9 yuan.

On Wednesday, China is scheduled to release its third-quarter GDP growth data and an array of other economic indicators, including industrial production, fixed asset investment and retail sales.

During an inspection visit of Macao Special Administrative Region last week, Premier Li Keqiang said the economy in the third quarter not only continued the growth momentum from the first half of this year, but also featured positive changes.

China's GDP expanded 6.7 percent in the second quarter, stable from the first quarter and within the government's target range of 6.5 to 7 percent for 2016.

Finance

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Chinese shares rally before release of major data

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