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1st LD-Writethru: China stocks rise after Fed rate decision

Xinhua, September 18, 2015 Adjust font size:

Chinese shares rose on Friday after the U.S. Federal Reserve's decision to refrain from raising interest rates.

The benchmark Shanghai Composite Index went up 0.38 percent to end at 3,097.92 points. The Shenzhen Component Index rose 1.14 percent to close at 9,850.77 points. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, climbed 2.59 percent to close at 1,983.3 points.

Total turnover on the two bourses was 472.62 billion yuan (77.1 billion U.S. dollars), down from 698.04 billion yuan registered on Thursday.

The U.S. Federal Reserve decided to maintain its near-zero interest rates during a policy meeting overnight.

China's securities regulator on Thursday urged brokerages to be flexible in closing accounts involved in illegal trading in response to worries that the clampdown may weigh on the market.

The move was the latest attempt by the regulator to reassure investors after it promised on Monday the crackdown would not impact the market.

Chinese stocks have fluctuated widely this week, dropping nearly 4 percent on Tuesday and rising almost 5 percent on Wednesday.

The major Shanghai index suffered big losses after plummeting around 40 percent since hitting a peak on June 12, and it has lost all of its gains since the beginning of the year. Endi