Chinese equities continue rising

Yuan Luhang
Technology shares lead the charge on Monday as the two major bourses see a total turnover of 716 billion yuan compared to the previous trading session's 633.99.
Yuan Luhang

China’s main equity indexes rose on Monday, led by technology shares.

At the close, the benchmark Shanghai Composite Index increased 0.84 percent to end at 3,024.74 points, the Shenzhen Component Index rose 1.82 percent to 10,001.93 points and the blue chip CSI300 index advanced 0.62 percent to finish at 3,995.75 points.

Turnover on the two major bourses totaled 716 billion yuan (US$100.38billion), compared with 633.99 billion yuan in the previous trading session.

Technology shares surged, with 5G, domestic software, chips, cloud computing and domestic operating system all gaining.

Shares in ZTE, Shenzhen Tatfook Technology Co Ltd, Amarsoft and China Software and Technology Services Co Ltd all hitting the daily cap.

 Insurance and banking shares were down. On the new STAR Market, 24 companies gained.

China's central bank will cut cash that lenders must hold as reserves starting next Monday, releasing about 900 billion yuan (US$127.12 billion) of long-term liquidity to bolster the economy. China's exports rose 2.6 percent from a year earlier in August, also giving confidence to investors. 

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