Benchmark index rises after lower opening

Tracy Li
Medical and tech shares posted a strong performance to lead Tuesday's gains amid risk-averse investment because of uncertainties over the US election.
Tracy Li

Chinese markets rose on Tuesday, with all major averages ending the day with gains.

The benchmark Shanghai Composite Index inched up 0.10 percent to close at 3,254.32 points after a lower opening clouded by the overnight losses on Wall Street.

The smaller Shenzhen Component Index gained 0.59 percent to finish at 13,269.65, while the ChiNext Index surged 1.26 percent to 2,650.76 points.

Volume on the two main bourses was 631.2 billion yuan (US$94 billion), compared with 633.6 billion yuan in the previous session.

Most sectors fell, but medical and tech shares posted a strong performance to lead the gains.

Investors tended to be risk-averse as global capital markets saw big swings. The uncertainty of the US election situation also added to their worries and may bring significant fluctuations to A-shares, analysts said.

The profits of China's major industrial firms totaled 646.43 billion yuan in September, up by 10.1 percent year on year, data from the National Bureau of Statistics showed, with growth narrowing by 9 percentage points from August.

Despite the weaker industrial profit growth, Nomura’s global markets research team said they still believed that China’s recovery is still largely on track and that Beijing will neither ease further nor start to tighten its policies in the near term.

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