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1st LD-Writethru: Chinese stocks close higher Tuesday

Xinhua, February 10, 2015 Adjust font size:

Chinese stocks closed higher on Tuesday with a surge of more than 2 percent in the ChiNext Index.

The benchmark Shanghai Composite Index rose 1.50 percent to end at 3,141.59 points, while the Shenzhen Component Index gained 2.47 percent to end at 11,136.62 points.

Total turnover on the two bourses further shrank to 400.5 billion yuan (65.34 billion U.S. dollars), the lowest within three months.

Li Hai, an analyst with CITIC Securities, said shares related to Internet finance ended the trading day with outstanding performances and still have huge potential.

The shares in this sector like Zhejiang Netsun and Hithink RoyalFlush hit the daily increase limit of 10 percent.

Meanwhile, stocks related to banks and securities traders led the increases. Western Securities surged 7.51 percent to close at 34.48 yuan per share, while China Everbright Bank rose 3.78 percent to end at 4.12 yuan.

The shares of railway infrastructure were among the strongest sectors. China Railway Erju surged 10 percent to 15.57 yuan per share, and China Railway Construction Corporation climbed up 4.92 percent to 12.57 yuan.

Li forecast further increases, considering more capital after the subscription for new batch of initial public offerings (IPOs) this week.

The ChiNext Index, China's Nasdaq-style board of growth enterprises, surged 2.27 percent to end at 1,747.67 points. Endi