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1st LD-Writethru: China stocks surge after holiday

Xinhua, October 8, 2015 Adjust font size:

Chinese shares surged on Thursday, the day the markets reopened after the seven-day National Day holiday.

The benchmark Shanghai Composite Index rose by 2.97 percent to end at 3,143.36 points. The Shenzhen Component Index surged 4.07 percent to close at 10,394.73 points.

The ChiNext Index, China's NASDAQ-style board, gained 5.17 percent to close at 2,190.31 points.

Total turnover on the Shanghai and Shenzhen bourses expanded to 587.62 billion yuan (92.53 billion U.S. dollars) from a 10-month low of 371.2 billion yuan the previous trading day.

More than 2,300 companies listed on the two stock exchanges saw stock-price increases, and nearly 200 shares hit the daily increase limit of 10 percent.

Traditional Chinese medicine (TCM) performed extremely well on Thursday with six shares up 10 percent and three up over 5 percent, after it was announced that Chinese TCM expert Tu Youyou won the Nobel Prize.

Domestic software companies saw a robust rebound with the sub-index up 5.97 percent, and other sectors like communication and machinery also seeing increases of over 4 percent.

The two major exchanges saw nearly 30-percent losses last quarter partly due to lackluster economic data. Endi