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1st LD-Writethru: Chinese stocks close higher Thursday

Xinhua, April 2, 2015 Adjust font size:

Chinese stocks ended higher on Thursday, with the benchmark Shanghai Composite Index up 0.41 percent, or 15.49 points, to finish at 3,825.78 points.

The Shenzhen Component Index gained 0.23 percent, or 31.38 points, to close at 13,426.10 points.

Combined turnover on the two bourses expanded to 1.24 trillion yuan (202.6 billion U.S. dollars) from the 1.13 trillion yuan on the previous trading day.

Nearly 140 shares increased by the daily limit of 10 percent, and more than 2,000 shares across the two boards posted handsome gains this trading day.

Shares related to home appliance, environmental protection, electric instruments and smart grid led the gains. Guanghzou-based Suofeiya Home Collection Co., Ltd. surged by the daily limit of 10 percent to end at 35.52 yuan per share. Beijing SPC Environment Protection Tech Co.,Ltd gained 9.38 percent to end at 39.55 yuan per share.

Heavyweight shares related to financial and property sectors extended the losing trend as investors expect their profits to suffer amid the downward trend of the Chinese economy.

China Merchants Securities lost 3.08 percent to close at 31.79 yuan per share, and Poly Real Estate Group Co., one of China's property heavyweights, went down 1.67 percent to end at 11.21 yuan per share.

Gao Xiang, chief financial advisor with CITIC Securities, expected more volatility on the future performance of the stock market over the upcoming round of initial public offerings (IPO) that will come after the annual Tomb-Sweeping Day, which falls on April 5 this year.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, increased by 2.93 percent, or 70.42 points, to end at 2,475.32 points. Endi