Shanghai shares jump 1.30% as CIIE opens

Tracy Li
Markets saw broad-based gains, with communication firms, automakers and electric equipment manufacturers among the day's best performers.
Tracy Li

The benchmark Shanghai Composite Index advanced 1.30 percent to close at 3,320.13 in active trading on Thursday.

The smaller Shenzhen Component Index jumped 1.72 percent to finish at 13,659.50, while the ChiNext Index gained 1.36 percent to end its trading day at 2,787.88.

Combined turnover on the two bourses came to 859.7 billion yuan (US$129.4 billion), compared with 729.7 billion yuan in the previous session.

Markets saw broad-based gains, with communication firms, automakers and electric equipment manufacturers as the day's best performers.

On Wednesday evening, the China International Import Expo opened its third edition in Shanghai, and China once again showed the world its commitment to ushering in a new round of high-level opening-up.

"Our aim is to turn the Chinese market into a market for the world, a market shared by all, and a market accessible to all," Chinese President Xi Jinping said in his keynote speech via video at the opening ceremony.

The strong rally of A-shares was mainly attributable to an improvement in the fundamentals, analysts said.

As the world watches for greater clarity in the outcome of the US presidential election, UBS advises investors to diversify their holdings.


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