National defense industry boosts markets
China’s main equity indexes climbed on Tuesday, led by the national defense industry.
At close, the benchmark Shanghai Composite index was up 0.44 percent at 3,410.61 points, while the smaller Shenzhen Component Index advanced 0.66 percent.
The blue-chip CSI300 index was up 0.54 percent and startup board the ChiNext Composite index was higher by 0.81 percent.
The new STAR 50 Index, which tracks the 50 biggest and most representative companies listed on the STAR Market, increased 0.24 percent.
Turnover on the two major bourses shrank to 851.4 billion yuan (US$124.35 billion) from 1.03 trillion yuan on the previous trading day.
Foreign investors sold a net 0.3 billion yuan worth of China shares on Tuesday via the Stock Connect linking the Chinese mainland and Hong Kong, which allows foreign investors access the country’s onshore equities market.
Most sectors gained with gainers outnumbering losers by 885 to 770 on the Shanghai bourse and 1,293 to 918 in Shenzhen.
The national defense industry gained markedly with share prices in shipbuilding, and aviation and aerospace surging by 4.11 percent and 3.51 percent on average.