Venture capital stocks among big risers

China stocks extended their rise on Friday, with large gains in shares related to venture capital and the free trade zone.

The benchmark Shanghai Composite Index climbed 0.41 percent to 2,679.11 points. The smaller Shenzhen Component Index surged 0.75 percent to close at 8,062.29 points and the CSI 300 index ended 0.47 percent higher at 3,257.67 points.

Venture capital related stocks extended their robust gains as the new technology innovation board in the Shanghai bourse is being pushed forward at a fast pace. Shanghai DaZhong Public Utilities Group, Qianjiang Water Resources Development and Kunwu Jiuding Investment Holdings all surged by the daily limit of 10 percent.

Shares related to the Shanghai Free Trade Zone were among the biggest gainers as well, with stocks of six companies including Y.U.D Yangtze River Investment Industry, Shanghai Lingang Holdings Corporation and Shanghai Jinqiao Export Processing Zone Development all posting rises hitting the 10 percent cap. 

The Chinese Ministry of Commerce, together with Shanghai, is now making efforts to put into effect the expansion of the free trade zone, Gao Feng, the spokesman for the ministry, said at a press conference on Thursday.

Stocks of non-bank financial companies, including Shanghai Greencourt Investment Group and Kunwu Jiuding Investment Holdings, also took a bump up today.

For the week, the Shanghai Composite Index posted a weekly gain of 3.09 percent, reversing the 2.9 percent loss of the previous week. Meanwhile, total turnover expanded to 885.7 billion yuan from 704.5 billion yuan last week.