Shares maintain their strong performance

Huang Yixuan
The benchmark Shanghai Composite Index jumps 1.74 percent to reach 3,403.44 points, while the smaller Shenzhen Component Index is up 1.84 percent to 12,406.37 points.
Huang Yixuan

China stocks continued to perform strongly on Wednesday, with the Shanghai Composite Index closing above the 3,400-point level.

The benchmark index jumped 1.74 percent to 3,403.44 points, while the smaller Shenzhen Component Index rose 1.84 percent to 12,406.37 points.

The ChiNext Composite Index, meanwhile, soared 2.34 percent to 2,651.97 points, and the blue chip CSI300 Index ended 1.62 percent higher at 4,774 points.

Trade volume on the two major bourses added up to 1.54 trillion yuan (US$219.4 billion), shrinking 197.2 billion yuan from Tuesday, of which turnover on the Shanghai Stock Exchange was 696.8 billion yuan, compared with 793.6 billion yuan in the previous session.

Overseas capital continued to flow into the Chinese mainland markets, with a net influx of 1.15 billion yuan via the Stock Connect schemes linking Shanghai and Shenzhen with Hong Kong.

Among industries, the aerospace and military sector led the rises, with more than 10 listed firms surging by the daily limit of 10 percent, including Jiangxi Hongdu Aviation Industry Co, AECC Aero Science and Technology Co and AECC Aviation Power Co.

Securities companies were also among the biggest gainers. Nine listed brokerages soared by the 10 percent cap, such as the Pacific Securities, Zheshang Securities and Caitong Securities Co.

Precious metal shares, computer hardware firms, stocks related to rare earth permanent magnet and those related to stock trading software all performed strongly, according to data from Wind Information.

On the STAR Market, 92 listed companies rose, one remained flat, while the other 28 posted declines. Geovis Technology Co was the biggest gainer with a surge of 438.37 percent, while Beijing Balance Medical Technology Co lost the most by 3.38 percent.

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