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1st LD-Writethru: Chinese shares climb to highest level in 7 years

Xinhua, May 25, 2015 Adjust font size:

Chinese shares extended the bull run on Monday, with the benchmark Shanghai Composite Index surging 3.35 percent, or 156.2 points, to finish at 4,813.8 points, the highest level in over seven years.

The Shenzhen Component Index gained 1.9 percent, or 305.26 points, to close at 16,351.06 points.

Total turnover on the two bourses came in at a record 2.03 trillion yuan (332.2 billion U.S. dollars).

The ChiNext Index, the Nasdaq-style board tracking growth enterprises, dropped 1.39 percent, or 48.71 points, to end at 3,467.92 points.

The securities, military, construction, coal, and banking sectors were among the day's biggest winners.

The military sector rose by over 4 percent, with Avic Aircraft and Sichuan Chengfei Integration Technology both surging by the daily limit of 10 percent to end at 39.50 yuan and 56.07 yuan, respectively.

The construction sector rose by over 5 percent. Jiangsu Zhongtai Bridge Steel Structure and JSTI Group both jumped 10 percent to end at 17.69 yuan and 31.53 yuan, respectively.

The Shanghai and Shenzhen stock markets have bolted higher on abundant liquidity and speculation that the central government will continue to unveil economy-boosting measures.

Analysts believe that the bullish performance will probably continue this week, citing the government's reform policies, including the "Made in China 2025" plan, which aim to boost manufacturing and deepen integration of information technology and industry. Endi