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1st LD-Writethru: Chinese shares rebound on gains of small-cap stocks

Xinhua, December 7, 2015 Adjust font size:

Chinese shares rebounded on Monday, led by small-cap stocks in sectors including media and entertainment, development zones, textile machinery and tourism.

The benchmark Shanghai Composite Index was up 0.34 percent to close at 3,536.93 points. The smaller Shenzhen index gained 0.92 percent to close at 12,443.05 points.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, rose 1.71 percent to close at 2,738.15 points.

Total turnover on the Shanghai and Shenzhen bourses shrank to 751 billion yuan (117.4 billion U.S. dollars), down from 822.9 billion yuan the previous trading day.

Gainers outnumbered losers by 672 to 261 in Shanghai and by 1,135 to 368 in Shenzhen.

Ninety-two stocks on the two bourses rose by the daily limit of 10 percent.

The sub-index for the media and entertainment sector, which covered 40 firms, jumped over 5 percent. Six shares soared by the daily limit of 10 percent, including Zhejiang Talent Television & Film Co., Ltd. and China Television Media Ltd.

Financial heavyweights, which led the tumble in the previous trading day, were still weak on Monday.

The financial sub-index, which covers 50 major banks, insurers and securities firms, plunged neary 3 percent on Friday and lost another 0.56 percent on Monday as graft-busters seem to be turning their attentions to the sector.

Shares in ICBC, one of China's big four banks, lost 0.6 percent to 4.66 yuan. Bank of China fell 1.2 percent to 4.12 yuan. China Construction Bank (CCB) dipped more than 1 percent to 5.85 yuan per share.

CITIC Securities, China's largest brokerage firm, fell 1.9 percent after losing 2.7 percent the previous trading day. Following reports that two of its executives had been taken away by authorities to assist in a graft investigation, CITIC confirmed on Sunday that it was unable to contact the pair. Endi