1st LD-Writethru: Chinese shares close higher

0 Comment(s)Print E-mail Xinhua, December 11, 2018
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BEIJING, Dec. 11 (Xinhua) -- Chinese stocks closed higher Tuesday in thin trading, with banking and telecommunications sectors leading the gains.

The benchmark Shanghai Composite Index was up 0.37 percent to end at 2,594.09. The Shenzhen Component Index closed 0.79 percent higher at 7,685.40.

Combined turnover on the two bourses shrank to 218.4 billion yuan (about 31.65 billion U.S. dollars) from 240.6 billion yuan the previous trading day.

Most shares climbed, with gainers outnumbering losers by 1,003 to 346 in Shanghai and 1,561 to 456 in Shenzhen.

Banking shares went up, with Jiangsu Changshu Rural Commercial Bank increasing 1.85 percent to 6.62 yuan a share. Bank of Changsha was up 1.38 percent to 8.83 yuan a share.

Telecommunications equipment producers gained as investors bet that the country's plan to boost new-generation information infrastructure development in 2019 could boost profitability.

Shares of Eastern Communications Co. rose by the daily limit of 10 percent to 7.7 yuan apiece. Guangdong Shenglu Telecommunication Tech Co. surged 6.26 percent to 7.13 yuan a share. Tongyu Communication Inc. climbed 3.29 percent to 29.18 yuan a share. Enditem

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