China's major stock index closes at near 19-month high
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E-mail Xinhua, August 1, 2017
Chinese shares extended a rally on Tuesday as strong factory data boosted market sentiment, with the major stock index closing at the highest in nearly 19 months.
The benchmark Shanghai Composite Index climbed 0.6 percent to close at 3,292.64 points. The Shenzhen Component Index closed 0.19 percent higher at 10,525.35 points.
Combined turnover at the two bourses reached 542 billion yuan (80.7 billion U.S. dollars).
The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 0.27 percent to close at 1,741.07 points.
The rally came as a private survey showed Tuesday that China's manufacturing activity expanded at the fastest pace in four months in July on back of economic stabilization.
The Caixin China General Manufacturing Managers' Index stood at 51.1 for July, up from 50.4 in June, the highest level in four months, according to the survey conducted by financial information service provider Markit and sponsored by Caixin Media Co. Ltd.
A reading above 50 indicates expansion, while a reading below 50 represents contraction.
Financial stocks led the rally on Tuesday. Jiangsu Jiangyin Rural Commercial Bank and New China Life Insurance both rose by the daily limit of 10 percent.
Coal companies dropped the most. Shanxi Coal International Energy Group fell 3.75 percent, while Datong Coal Industry shed 4.1 percent.
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