Stocks extend gains, turnover soars

Cao Qian
The ChiNext jumped 2.64 percent to a year high of 1,773.43 points on turnover of an an all-day high of 212.6 billion yuan.
Cao Qian

Chinese stocks rallied again on Tuesday after a major rebound on Monday, with gains across most sectors.

And total turnover for Shanghai and Shenzhen hit 1.13 trillion yuan (US$168.20 billion), up from 944 billion yuan on Monday.

The Shanghai Composite Index rose 1.1 percent to close at 3,060.31 points after reaching an intra-day high of 3,093.39 points, extending its strength for the second consecutive day following a collapse on Friday.

The smaller Shenzhen Component Index gained 1.41 percent to 9,841.24 points, while the ChiNext jumped 2.64 percent to a year high of 1,773.43 points on turnover of an all-day high of 212.6 billion yuan.

Agriculture-related companies were among the top gainers, rising an average 7.16 percent — with several livestock and poultry raising firms, including Chuying Agro-Pastoral Group and Dahu Aquaculture Co, surging the 10-percent daily cap.

Telecoms services providers and media firms also saw strong gains. China Unicom,the country's second-biggest mobile carrier, jumped 9.01 percent to 7.5 yuan.

Shanghai Oriental Pearl Media Co surged 10.03 percent to 12.94 yuan and Hunan Tianrun Digital Entertainment & Cultural Media Co advanced 10.12 percent to stand at 4.68 yuan.

STO Express, which has just announced the sale of a 14.65-percent stake to Alibaba Group Holding Ltd for 4.66 billion yuan hit the 10 percent cap for the second straight day to close at 24.73 yuan.

Special Reports