Brokerages, chemicals boost stock market

Shanghai stocks rose on Thursday, led by gains of brokerages and chemical firms.

The benchmark Shanghai Composite Index jumped 1.13 percent to close at 3,404.87 points. The smaller Shenzhen Component Index added 1.01 percent to 13,889.87 points.

Combined turnover on the two bourses was 791.7 billion yuan (US$121.1 billion), compared with 701 billion yuan in the previous session.

A total of 62 listed firms posted gains of more than 9 percent, while 13 declined by over 9 percent.

Shares in the health-care sector rose after investors heard that Jiangsu Hengrui Medicine Co Ltd had announced promising results for a cancer drug.

TF Securities said the index is moving upward and suggested investors pay attention to dairy products and snacks in food and beverage sector in the short-term due to the peak consumption season at the end of the year. For long-term investments, the company highlighted new-energy vehicles and related companies.