Stock markets jump, with SSE50 index up 3.51%

Tracy Li
China's A-share stocks expanded their gains on Thursday, with the three major index all recording big rises and the SSE50 index up 3.51 percent. 
Tracy Li

China’s A-share stocks expanded their gains on Thursday, with the three major index all recording big rises and the SSE50 index up 3.51 percent.

The benchmark Shanghai Composite Index jumped by 2.38 percent, or 69.32 points, to finish at 2,987.12. It was lifted by the strong performance of solid waste disposal companies and securities brokerages.

The smaller Shenzhen Component Index added 2.34 percent to end at around 9,134.96 points, while the ChiNext Index rose by 1.91 percent to finish at 1,498.01 points.

Led by weighted stocks like liquor makers and home appliance manufacturers, the Shanghai Stock Exchange 50 index recorded a nearly 4 percent growth during intra-day trading hours.

The combined turnover of the two bourses hit 602.9 billion yuan (US$87.27 billion), up from 504 billion yuan in the previous trading day.

Shares of Anxin Trust Co Ltd, China Securities Co Ltd and Anhui Xinli Finance Co Ltd all rose by the daily cap of 10 percent.

Overnight on Wall Street, three major index all registered gains, following the US Federal Reserve left interest rates unchanged at its monetary policy meeting.

The Federal Open Market Committee, the Fed's policy-making committee, decided to maintain the target range for the federal funds rate at 2.25 percent to 2.5 percent after concluding a two-day policy meeting, according to reports from Xinhua.

On Thursday, the Shanghai Stock Exchange issued a notice that it would organize a full-network test of the online distribution business of the newly-launched STAR Market. And the first sci-tech board stock will be issued online next Thursday.

For the upcoming meeting between the presidents of China and the United States in Japan next week, Foreign Ministry Spokesman Lu Kang said on Wednesday that a mutually beneficial deal between the two economies would conform to the aspirations of the people of both countries and meet international expectations.


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