Shanghai shares rebound after 5 straight days of losses

Electronic component shares and household appliance companies helped the key index to close higher.

Shanghai stocks rebounded today after dropping for five straight trading days last week, helped by gains made by electronic component stocks and household appliance companies.

The Shanghai Composite Index added 0.78 percent to close at 3,154.13 points.

Electronic component shares such as Chengdu Xuguang Electronics Co Ltd surged by the daily limit of 10 percent. Hangzhou Silan Microelectronics Co Ltd and Ningbo Shanshan Co Ltd both gained over 9.9 percent.

Household appliance shares rose as well, with Shanghai Highly Group Co Ltd up by 9.98 percent and Zhejiang Three Stars New Materials Co Ltd gaining 8.29 percent.

Agricultural machinery companies were also gainers after investor sentiment was buoyed by a newly-released central government policy that promotes rural development.

Thinker Agricultural Machinery Co Ltd jumped 9.21 percent and First Tractor Co Ltd advanced 6.57 percent.

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