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1st LD-Writethru: Chinese stocks close higher Wednesday

Xinhua, February 11, 2015 Adjust font size:

Chinese stocks closed higher on Wednesday,continuing the winning streak for the third consecutive day.

The benchmark Shanghai Composite Index rose 0.51 percent to end at 3,157.7 points, while the Shenzhen Component Index gained 1.16 percent to end at 11,265.63 points.

Total turnover on the two bourses expanded to 412.07 billion yuan (67.37 billion U.S. dollars) from 400.5 billion yuan the previous trading day.

Analyst with CITIC Securities, Chen Wei, said sectors related to Internet technology and medicine led gains. Hundsun Technologies climbed up 10 percent to 70.70 yuan per share, and Kangmei Pharmaceutical surged 10.02 percent to 18.23 yuan.

Sluggish performance was seen in heavyweights including banks, securities, real estate, petroleum and petrochemical sectors, which were among the day's biggest losers. Beijing Urban Construction Investment and Development lost 0.12 percent to end at 17.33 yuan. Shanghai Pudong Development Bank closed at 14.42 yuan, down 0.07 percent.

Chen advised caution in future trading, adding that there was the possibility of more monetary easing policies from the central bank.

Stocks related to consumption and medicine were on the suggested list.

The ChiNext Index, China's Nasdaq-style board of growth enterprises, surged 1.44 percent to end at 1,772.85 points. Endi