BEIJING, March 4 (Xinhua) -- Chinese shares close higher Monday, following MSCI's decision to increase the weight of China A-shares in its indexes and the newly unveiled regulations on the sci-tech board.

The benchmark Shanghai Composite Index gained 1.12 percent to finish at 3,027.58, breaking through the 3,000-point level. The Shenzhen Component Index climbed 2.36 percent to 9,384.42.

Combined trading volume of the two indexes surged to 1.05 trillion yuan (around 156.09 billion U.S. dollars).

Gainers outnumbered losers 1,237 to 165 on the Shanghai bourse and 1,842 to 214 on the Shenzhen bourse.

The shipbuilding and environmental protection industries were among the biggest winners. Bestway Marine & Energy Technology Co. Ltd., a shipbuilder based in Shanghai, rose by the daily limit of 10 percent to close at 3.8 yuan per share.

Monday's growth came after the announcement of MSCI, a global index provider, that it would increase the weight of China A-shares in its indexes by raising the inclusion factor to 20 percent.

Besides, China released regulations Friday on the science and technology innovation board, which pilots registration-based initial public offerings (IPO) system, a major reform step for China's capital market.

The establishment of the board will help promote technological innovation, high-quality development of the economy and market-oriented reform of the capital market, according to Yi Huiman, chairman of China Securities Regulatory Commission.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 3.31 percent to close at 1,619.71 on Monday. Enditem

Related

Go to Forum >>0 Comment(s)