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1st LD-Writethru: Chinese stocks close higher Friday

Xinhua, March 27, 2015 Adjust font size:

Chinese stocks ended higher on Friday, with the benchmark Shanghai Composite Index up 0.24 percent, or 9 points, to close at 3,691.10 points.

The Shenzhen Component Index gained 1.27 percent, or 161.45 points, to finish at 12,874.42 points.

Combined turnover on the two bourses shrank to 950.25 billion yuan (155.27 billion U.S. dollars) from 1.20 trillion yuan the previous trading day.

Real estate, construction, mobile games, and medical sectors led the gains.

Poly Real Estate Group Co., one of China's property heavyweights, gained 3.86 percent to close at 10.77 yuan per share. China Communications Construction Company Limited surged by the daily limit of 10 percent to close at 16.30 yuan per share.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 1.40 percent to end at 2,323.82 points.

"As the gathering place of emerging industries, the ChiNext Index has become the focus of market attention," said Sun Xiwei, chief analyst with CITIC Securities. "The board has seen quick correction after continuous rise to as high as 2,400 points, but still won handsome gains on the last trading day of the week."

Sun also expected more bullish performance for future trading. Endi