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1st LD-Writethru: Chinese shares post solid gains, led by heavyweights

Xinhua, July 12, 2016 Adjust font size:

Chinese stocks posted solid gains on Tuesday, led by heavyweights including lenders, brokerages and airliners.

The benchmark Shanghai Composite Index added 1.82 percent, or 54.46 points, to end at 3,049.38.

The smaller Shenzhen index closed 1.54 percent higher at 10,757.85 points. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 1.3 percent to close at 2,247.35 points.

Turnover expanded to 734.88 billion yuan (109.68 billion U.S. dollars), up from around 700 billion yuan the previous trading day.

Lenders ended broadly higher. The Industrial and Commercial Bank of China, the biggest lender by market value, rose 1.64 percent to close at 4.34 yuan. The Bank of China, the third largest, climbed 1.54 percent to end at 3.3 yuan.

Brokerages also posted strong performances. Citic Securities, one of the country's leading brokerages, added 2.3 percent to 16.93 yuan.

Airliners rallied, with Air China, the country's flagship air carrier, jumping by the 10-percent daily limit to end at 8 yuan. Endi