72 firms on major bourses enjoy 9% surge

Shanghai stocks rose on Wednesday, led by gains in pharmaceutical and agriculture sectors.

The benchmark Shanghai Composite Index edged up 0.14 percent to close at 2,935.87 points.

The smaller Shenzhen index was up 0.19 percent to 11,420.84 points while the blue chip CSI300 Index closed 0.08 percent higher at 4,017.59 points. Startup board the ChiNext Composite Index added 0.15 percent to 2,263.96 points.

Turnover on the two major bourses totalled 738.9 billion yuan (US$104.2 billion), an increase of 26.5 billion yuan compared with 712.4 billion yuan the previous trading day. Turnover on the Shanghai Stock Exchange was 278 billion yuan, an increase of 7.1 billion yuan from the previous trading day’s 270.9 billion yuan.

On the two major bourses, the stocks of 72 listed companies surged by over 9 percent, while six declined by more than 9 percent.

In the A-share market, chemical, iron and steel providers, and telecommunication companies were also among the biggest gainers.

Of the 111 firms on the STAR Market, 58 companies closed higher, one remained unchanged while the rest retreated.

Youyou Foods Co Ltd jumped 7.43 percent to 18.94 yuan and Datang Telecom Technology Co Ltd added 6.08 percent to 13.08 yuan.