Chinese shares extend gains Monday

0 Comment(s)Print E-mail Xinhua, July 3, 2017
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Chinese shares continued to post mild gains Monday as investors awaited the release of monthly economic data and mid-year earnings by listed firms.

The benchmark Shanghai Composite Index edged up 0.11 percent to close at 3,195.91 points, while the smaller Shenzhen Component Index closed 0.05 percent higher at 10,535.05 points.

Combined transaction volume of the two bourses stood at 369.8 billion yuan (about 54.5 billion U.S. dollars).

The ChiNext Index, China's NASDAQ-style board of growth enterprises, was up 0.99 percent to close at 1,835.99 points.

Investors' sentiment will be affected by the latest monthly economic data to be released this week and next week, as well as by the half-year results due to come out starting from this month, Huatai Securities said in an analysis note.

A leading indicator of China's manufacturing activity pointed to solid growth in the world's second largest economy in June, surprising the market.

The country's manufacturing purchasing managers' index rose from 51.2 the previous month to 51.7 in June, the second highest reading of the year, official data showed last week.

Cement and steel producers led the gain Monday. The stock price of Huaxin Cement Co., Ltd. rose 3.99 percent to 9.91 yuan, while Maanshan Iron & Steel Co., Ltd. surged by the daily limit of 10 percent to 3.89 yuan.

Liquor makers lost the most, with Kweichow Moutai Co., Ltd. falling 2.43 percent to 460.37 yuan.

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