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1st LD-Writethru: Chinese shares up slightly Thursday

Xinhua, March 31, 2016 Adjust font size:

China's stocks continued to rise on Thursday but moderated from a previous over 2-percent jump, following gains on the U.S. market.

The benchmark Shanghai Composite Index climbed 0.11 percent to close at 3,003.92 points after mild fluctuations throughout the day, while the smaller Shenzhen index only edged up 0.09 percent to end at 10,455.37 points.

Companies in port, shipping, entertainment and the military industry led the rises, but financial firms, food producers and home appliance manufacturers suffered.

Dalian Port (PDA) Company, which operates a major eastern port, soared by the 10-percent daily limit to close at 6.69 yuan (about 1 U.S. dollar) per share, while Ping An Insurance (Group) Company of China lost 0.56 percent to 31.81 yuan per share.

Chinese shares have been rallying since Wednesday, ending a previous two-day slump, thanks to brisk U.S. shares after Federal Reserve chair Janet Yellen signaled a cautious approach to a future interest rate hike. Major indexes including the Dow Jones Industrial Average and S&P 500 kept rising.

In addition, several blue chips favored by state-owned capital also saw substantial gains.

Wutongshu Investment Platform and its two subsidiaries, investment firms under China's foreign exchange regulator, have been buying shares of large manufacturers and banks since the fourth quarter of 2015, according to stock exchange filings.

CITIC Heavy Industries Co. surged by the 10-percent limit to 5.46 yuan per share, while Jiangxi Hongdu Aviation Industry Co. jumped 6.02 percent to 20.78 yuan per share.

Bucking the rise trend, the ChiNext Index, China's NASDAQ-style board of growth enterprises, declined 0.47 percent to close at 2,238.29 points.

Total turnover on the two bourses amounted to 696.93 billion yuan, up from 628.4 billion yuan on the previous trading day. Endi