Off the wire
• Urgent: Iran ready to talk with U.S., Saudi Arabia on Syria: Rouhani  • Taiwan stocks close up 0.18 pct  • Roundup: S. Korean shares fall on China's export fall  • Rodriguez not optimistic of keeping red jersey to Madrid  • 3rd LD Writethru-China Focus: China foreign trade decline widens in August  • China Hushen 300 index futures surge on Tuesday  • China treasury bond futures close lower Tuesday  • Uganda to host Kenya in build-ups for U-19 ICC World Cup qualifiers  • Marathon runner Mutai voted Uganda's best sportsman for August  • Ghana vows to take on Nigeria in All Africa Games clash  
You are here: 　 Home

2nd LD-Writethru: China stocks surge 2.92 pct Tuesday

Xinhua, September 8, 2015 Adjust font size:

Chinese shares rebounded Tuesday after encouraging news about an index circuit breaker system and a dividend tax break.

The benchmark Shanghai Composite Index surged more than 3 percent in the afternoon trading session, ending at 3,170.45 points, up 2.92 percent.

The Shenzhen Component Index jumped 3.29 percent to close at 10,320.23 points. The ChiNext Index, China's NASDAQ-style board of growth enterprises, soared by 5.68 percent to close at 2,001.16 points.

Total turnover on the two bourses was 524.2 billion yuan (82.42 billion U.S. dollars), down from 602.5 billion yuan the previous trading day.

Winners outnumbered losers 882 to 29 in Shanghai, and by 1,346 to 40 in Shenzhen.

China's stock exchanges on Monday began soliciting public opinions on an index circuit breaker system, which would suspend trading temporarily in response to substantial rises or drops, according to a draft regulation posted on the Shanghai bourse website.

Meanwhile, the Ministry of Finance announced on Monday that Chinese investors holding a stock for more than one year will be exempted from a 5-percent dividend tax from Tuesday.

Bank shares reversed their previous weak momentum and led Tuesday's rebound, with the banking sub-index rising by 2.31 percent.

Shanghai stocks performed well with over 11 shares hitting the daily increase limit of 10 percent. The logistics sector saw eight shares surge by the daily limit. Endi