1st LD-Writethru: China's key stock index rises on strong economic data
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E-mail Xinhua, January 19, 2018
BEIJING, Jan. 19 (Xinhua) -- China's key stock index continued to rise on Friday, after data showed the country's economic growth had picked up pace for the first time in seven years.
The benchmark Shanghai Composite Index rose 0.38 percent to close at 3,487.86, and the Shenzhen Component Index closed 0.21 percent lower at 11,296.27.
Combined turnover on the two bourses stood at 537.9 billion yuan (83.9 billion U.S. dollars), expanding from about 484.8 billion yuan the previous trading day.
Data on Monday showed China's economy expanded 6.9 percent in 2017, exceeding market estimates of 6.8 percent.
Shares in banking and securities led the gains. Jiangyin Rural Commercial Bank and Wuxi Rural Commercial Bank both rose by the daily limit of 10 percent to end the day at 9.6 yuan and 9.5 yuan, respectively.
Bucking the trend, household appliances and liquor producers lost steam. Kweichow Maotai, China's leading liquor maker, edged down 0.07 percent to 750.18 yuan.
The ChiNext Index, which tracks China's NASDAQ-style enterprises, lost 0.57 percent to close at 1,728.14 Friday. Enditem
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