Real estate leads rise in local stocks
Print Edition
CHINA stocks extended their rise yesterday ahead of a new round of trade talks between the US and China, boosted by robust gains in real estate.
The benchmark Shanghai Composite Index advanced 0.39 percent to 2,924.86 points. The Shenzhen Component Index closed 0.34 percent higher at 9,506.56 points, while the blue-chip CSI300 index edged up 0.14 percent to 3,843.24 points.
Turnover on the two major bourses was 365.8 billion yuan (US$51.37 billion), shrinking slightly from 373.06 billion yuan in the previous session.
Most industrial sectors closed higher, according to data from Wind Information, with several sectors picking up in the afternoon session.
Stocks of nearly 40 companies listed on the A-share markets jumped sharply to hit the 10 percent daily cap.
Real-estate shares continued to lead the rise, with DongGuan Winnerway Industrial Zone Co surging by the maximum 10 percent and Wedge Industrial Co soaring 8.96 percent.
Among non-ferrous metal firms which were also among the biggest gainers, JL Mag Rare-Earth Co rose by the daily limit of 10 percent while Jinduicheng Molybdenum Co closed 8.46 percent higher.
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