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Chinese Shares Rise For 2nd Day - June 5
 

Major Chinese stock indexes closed higher for a second trading day Tuesday, driven partly by strong newly listed shares and high-tech sectors.

The benchmark Shanghai Composite Index was up 0.74 percent to close at 3,114.21 points. The Shenzhen Component Index closed 1.78 percent higher at 10,385.61 points.

Combined turnover totaled 370.7 billion yuan (about 58 billion U.S. dollars), up from about 354 billion yuan the previous trading day.

The sector for newly-listed shares was the strongest, with the sub-index up 5.4 percent from Monday. The shares of six companies surged by the daily limit of 10 percent.

High-tech sectors, including electronics, computer, and pharmaceutical sectors were among the frontrunners.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 2.54 percent to close at 1,746.11 points on Tuesday. The board, which started trading on Oct. 30, 2009, mainly lists high-tech companies and those with high growth potential.

Bucking the trend, market heavyweights were relatively weak. Industrial and Commercial Bank of China, the country's largest commercial bank, was flat from previous close at 5.7 yuan per share. China Shenhua, the largest coal miner in China, was down by 0.67 percent.

Sinopec, the largest oil refiner in China, was down by 1.05 percent, and PetroChina, the largest oil and gas producer, edged up 0.25 percent.


(www.chinaview.cn 2018-06-06)
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