Chinese shares close higher for third straight session

0 Comment(s)Print E-mail Xinhua, May 15, 2017
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Chinese stocks advanced for the third consecutive session Monday, with the benchmark Shanghai Composite Index up 0.22 percent to end the day at 3,090.23 points.

The smaller Shenzhen Component Index closed 0.59 percent higher at 9,845.6 points. Total turnover on the two bourses stood at 349.6 billion yuan (about 50.68 billion U.S. dollars).

The ChiNext Index, China's NASDAQ-style board of growth enterprises, ended 0.23 percent higher to close at 1,778.64 points.

Analysts said investor concerns over tightening financial scrutiny have waned, and market sentiment has been boosted by the Belt and Road Forum for International Cooperation held in Beijing on Sunday and Monday.

It was announced at the forum that China will contribute an additional 100 billion yuan to the Silk Road Fund to scale up financing support for the Belt and Road Initiative.

Shares related to the Belt and Road Initiative recorded robust performance, with Beijing Hengtong Innovation Luxwood Technology up by the daily limit of 10 percent to 26.2 yuan.

Cyber security stocks were also strong Monday after the global "WannaCry" ransomware began to spread worldwide over the weekend and affected enterprises and government offices in China.

More than 10 cyber security stocks rose by the daily limit of 10 percent Monday, including Bluedon Information Security Technologies and Beijing TRS Information Technology, which surged to 11.61 yuan and 13.83 yuan, respectively.

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