Main board indexes continuing their rise

Huang Yixuan
Total turnover on the two major bourses expand sharply to 1.73 trillion yuan (US$247.1 billion), compared with 1.54 trillion yuan in the previous session.
Huang Yixuan

China stocks further extended rises on Thursday, with the Shanghai and Shenzhen main board indexes posting gains for eight sessions in a row.

The Shanghai Composite Index advanced 1.39 percent to end at 3,450.59 points, while the smaller Shenzhen Component Index jumped 2.6 percent to 13,754.74 points.

The ChiNext Composite Index, meanwhile, soared 3.99 percent to 2,757.65 points, and the blue chip CSI300 Index closed 1.4 percent higher at 4,840.77 points.

Total turnover on the two major bourses expanded to 1.73 trillion yuan (US$247.1 billion), compared with 1.54 trillion yuan in the previous session. Trade volume on the Shanghai Stock Exchange added up to 751.4 billion yuan, up 54.6 billion yuan from Wednesday.

Overseas capital continued to flow into the Chinese mainland markets, with a net influx of 7.95 billion yuan via the Stock Connect schemes linking Shanghai and Shenzhen with Hong Kong. 

Guotai Junan Securities said the stock markets would continue to perform strongly under bullish market sentiment, as turnover on the two major markets has remained above 1.5 trillion yuan for four consecutive trading days, and incremental funds are rapidly flowing into the stock market.

In terms of individual stocks, shares of 232 listed companies surged by over 9 percent, while none declined by over 9 percent.

Among industries, precious metal shares extended the rises, with Zijin Mining Group Company, Chifeng Jilong Gold Mining Co, YanTai Yuancheng Gold Co and Shandong Humon Smelting Co all hitting the daily limit of 10 percent.

The military sector was also among the biggest gainers. Over 10 listed firms hit the 10 percent cap, including Asian Star Anchor Chain Co, AVIC Shenyang Aircraft Co and China Satellite Communications Co.

Motorcycle firms, the biological technology sector, leisure goods companies, and shares related to gold all performed well.

Among the 122 firms listed on the STAR Market, 116 gained while the rest declined. QuantumCTek Co posted the highest-ever intraday surge of over 1,000 percent and closed 923.91 percent higher for the session. Shenzhen Fortune Trend Technology Co lost the most by 2.83 percent.

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