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1st LD-Writethru: Chinese shares struggle to extend winning streak

Xinhua, March 8, 2016 Adjust font size:

Chinese shares struggled to stay in positive territory on Tuesday, and while the day was marked by drastic fluctuations, the markets managed to extend the winning streak to a sixth day.

The benchmark Shanghai Composite Index edged up 0.14 percent to close at 2,901.39 points, and the smaller Shenzhen index closed 0.3 percent higher at 9,732.73 points.

Total turnover on the two bourses expanded to 532.7 billion yuan (81.95 billion U.S. dollars), compared with Monday's 478.62 billion yuan.

The Shanghai index once plunged over 3 percent in the morning session before gradually recouping its losses. Near market close, the strong performance of heavyweights such as banking and oil giants managed to buoy the index.

The ChiNext Index, the NASDAQ-style board of growth enterprises, dived over 5 percent at one point but ended the day with a 2.5-percent rise.

Customs data on Tuesday showed China's exports plunged more than expected in February over weak global demand and seasonal distortions, adding pressure on the slowing economy.

Shares related to mining and robots were among the day's gainers. Nanjing Panda Electronic Equipment Co. surged 4.87 percent to end the day at 13.35 yuan per share.

The real estate sector, which remained in the limelight for its remarkable gains during the recent boom, retreated further on Tuesday. Major developer Poly Real Estate Group closed at 10.06 yuan, down 1.18 percent from a day earlier. Endi