Consumer, travel stocks lead China market gains

Hu Yumo
The benchmark Shanghai Composite Index added 0.51 percent to close at 3,295 points, while the Shenzhen Component Index rose 0.93 percent to 13,143 points.
Hu Yumo

China stocks continued to rise on Tuesday, led by gains among tourism and consumer companies.

The benchmark Shanghai Composite Index added 0.51 percent to close at 3,295.68 points while the smaller Shenzhen Component Index rose 0.93 percent to 13,143.46 points.

Shares of tourism companies, airlines and consumer brands rose as demand increases ahead of the Mid-Autumn Festival and the National Day holidays.

Trading volume on the two major bourses added up to 725.5 billion yuan (US$106.9 billion), compared with Monday’s 769.4 billion yuan.

A total of 64 listed firms posted gains of more than 9 percent, while 11 declined by over 9 percent.

Guotai Junan Securities said the A-share market is expected to further grow in the short-term and suggested continuing to pay attention to consumer shares, including electronics, liquor makers and new-energy vehicles.

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