Chinese shares rebound Friday
0 Comment(s)
Print
E-mail Xinhua, June 29, 2018
Chinese shares made a strong comeback Friday after sharp declines in the past week, with the major index rising more than 2 percent.
The benchmark Shanghai Composite Index gained 2.17 percent to end at 2,847.42 points while the Shenzhen Component Index closed 3.39 percent higher at 9,379.47 points.
Combined turnover stood at 343.2 billion yuan (about 51.87 billion U.S. dollars), slightly up from 306.1 billion yuan the previous trading day.
Recently listed shares gained across the board, as WuXi AppTec Company, a pharmaceutical and medical device company, jumped by the daily limit of 10 percent.
Chinese stocks went through sharp corrections this week, with the Shanghai index hitting a two-year low. Major liquor makers and medical device producers, which showed strong performances at the beginning of the year, saw their shares tumble.
Investor sentiment improved in these sectors Friday, with shares of Jiangsu Hengrui Medicine Company, a large-cap pharmaceutical firm, rising 4 percent.
The country's central bank said Thursday it will keep liquidity at a reasonable and ample level, and continue to implement a prudent and neutral monetary policy.
The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 4.08 percent to close at 1,606.71 points Friday.
Go to Forum >>0 Comment(s)