Chinese shares rebound significantly Friday
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E-mail Xinhua, July 20, 2018
Despite opening lower, Chinese shares saw strong rebounds Friday, with stocks from financial sectors leading the gains.
The benchmark Shanghai Composite Index rose 2.05 percent to close at 2,829.27 points, while the Shenzhen Component Index closed 1.12 percent higher at 9,251.48 points.
Trading recovered from the downward trend on previous trading days. The total turnover stood at 348.4 billion yuan (about 51.4 billion U.S. dollars), up from 311 billion yuan Thursday.
Gainers outnumbered losers by 1,136 to 209 on the Shanghai bourse and by 1612 to 347 in Shenzhen.
Banking and insurance sectors saw a strong performance. New China Life Insurance rose 9.31 percent to close at 49.67 yuan. China Merchants Bank gained 6.87 percent to 27.38 yuan. China Construction Bank went up 6.77 percent to 6.78 yuan.
China's NASDAQ-style ChiNext Index also rose markedly, up 1.23 percent to close at 1,609.55 points.
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