Shanghai shares hit new high in 7 weeks

Gains by blockchain-related shares boosted key index to rise for 10 days.

Shanghai stocks extended their rally for 10 days to hit a new high in seven weeks today, boosted by blockchain-related shares.

The Shanghai Composite Index edged up by 0.10 percent to close at 3,425.34 points.

The blockchain-related shares led the gains today, with Shenzhen Kingdom Sci-Tech Co Ltd and Easysight Supply Chain Management Co Ltd both hitting the daily maximum of 10 percent.

Over 10 technology companies including Netease, 360 and Xunlei Networking Technologies are planning or have already started business in the blockchain field.

"This year a lot of blockchain-related projects are being put into practice while the sharing economy enters a new era," Guotai Junan Securities said in a note.

Electronic component companies also rose. Shenzhen Auto Electronics Co Ltd, Chengdu Xuguang Electronics Co Ltd and Guangdong Champn Asia Elctrncs Co Ltd all surged by the daily limit of 10 percent.


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