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1st LD-Writethru: China stocks close higher before holiday

Xinhua, September 30, 2015 Adjust font size:

Chinese shares closed higher on the last trading day before the National Day holiday.

On Wednesday, the benchmark Shanghai Composite Index was up 0.48 percent, to close at 3,052.78 points. The Shenzhen Component Index gained 0.39 percent, finishing the day at 9,988.25 points.

Total turnover on the two bourses fell to a 10-month low of 371.2 billion yuan (58.35 billion U.S. dollars) from 420.9 billion yuan the previous trading day.

Military and aviation companies were among the biggest winners, with China Avionics Systems and Avic Aircraft rising by the daily limit of 10 percent. In the afternoon session, three companies under the Aviation Industry Corp. of China (AVIC) unexpectedly suspended trading, fueling merger speculation.

More than 1,500 companies listed on the Shanghai and Shenzhen stock exchanges saw their share prices increase.

Wednesday marked the last trading day on the two major exchanges before the seven-day National Day holiday, starting on Oct. 1. The markets will reopen on Oct. 8.

In the third quarter, the Shanghai Composite Index and the Shenzhen Component Index lost nearly 30 percent each partly due to lackluster economic data and the regulator's efforts to leverage the A-share market.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, lost 0.76 percent to close at 2,082.67 points on Wednesday. Endi