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1st LD-Writethru: Chinese shares rise after central bank easing

Xinhua, November 20, 2015 Adjust font size:

China's stocks closed higher on Friday, with the benchmark Shanghai Composite Index up 0.37 percent to close at 3,630.50 points.

The smaller Shenzhen index gained 0.73 percent to close at 12,702.03 points. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, surged 1.06 percent to close at 2,800.15 points.

Total turnover on the two bourses expanded to 1.08 trillion yuan (169.2 billion U.S. dollars) from 859.8 billion yuan the previous trading day, indicating more confidence among investors.

Around 140 shares across the two boards rose by the 10-percent daily limit. The gains were led by industries related to domestic software, aviation, furniture, gold, and the project integrating the development of Beijing, Tianjin and Hebei Province.

Eastern Gold Jade Co. surged by the daily limit to end at 15.31 yuan per share. Linewell Software Co., also surged 10 percent to end at 97.92 yuan.

Market confidence was helped after a rare move by the Chinese central bank on Thursday to lower the interest rates at which its local branches can obtain credit, which should ensure low market interest rates and ample liquidity. The policy entered into effect on Friday. Endi