Off the wire
• Palestinian killed in latest stabbing attack in West Bank  • Feature: Rains pour flood of misery to Nairobi residents  • Spotlight: GOP presidential candidate blasts media as arm of Hillary Clinton's campaign  • Old order look to establish supremacy in Spain's matchday 10  • El Nino floods affect thousands in Somalia: UN  • China congratulates Nepal's newly elected President  • Houston Rockets lose season opener to Denver Nuggets 105-85  • Roundup: Japan gains provisional approval to deploy controversial Osprey planes to Saga Pref.  • Roundup: India pledges to involve itself in Africa's development  • Gold price closes down in Hong Kong  
You are here: 　 Home

1st LD-Writethru: Chinese shares close higher on Thursday

Xinhua, October 29, 2015 Adjust font size:

Chinese stocks closed higher on Thursday, with the benchmark Shanghai Composite Index up 0.36 percent to close at 3,387.32 points.

The smaller Shenzhen index gained 0.63 percent to close at 11,566.66 points. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, closed flat at 2,485.28 points.

Total turnover on the Shanghai and Shenzhen bourses shrank to 749.7 billion yuan (117.9 billion U.S. dollars) from 916.44 billion yuan the previous trading day.

Shares in sports, restaurants and hotels performed strongly with companies such as Ledman Optoelectronics rising by the daily limit of 10 percent. The financial sector lost the most.

Thursday marked the last day of the four-day fifth plenary session of the 18th CPC Central Committee, during which Chinese leaders discuss China's development plan for the next five years.

As details about the plan surface in the next few days, related shares may receive a boost from favorable policies, analysts predicted.

Reforms on state-owned companies may bring the biggest investment opportunity in the next ten years, said Zheng Xiaohui, a fund manager at China Asset Management Company.

As a key part of the reforms, securitization of state-owned assents can bring around 10 to 20 trillion yuan to the stock market, Zheng estimated. Endi