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1st LD-Writethru: Stocks close mixed, gains in communication, transportation

Xinhua, July 21, 2016 Adjust font size:

Chinese stocks closed mixed on Thursday, with the benchmark Shanghai Composite Index up 0.37 percent, at 3,039.01 points, led by communication and transportation shares.

The smaller Shenzhen index closed 0.25 percent higher at 10,787.21 points.

Combined turnover on the Shanghai and Shenzhen bourses stood at 556.9 billion yuan (83.28 billion U.S. dollars), up from 505.4 billion yuan the previous trading day.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, lost 0.15 percent to close at 2,265.13 points.

Quantum communication shares were among the biggest gainers, while rare-earth permanent magnet and gold-related shares were among the losers.

Encouraged by favorable government policies, stocks of Jiangsu Etern Company Limited, Zhongtian Technology Focus Precision Manufacturing, CASTECH and Sunwave Solutions all rose by the daily limit of 10 percent.

The Chinese government on Wednesday announced a five-year plan for technological innovation to help foster new engines for the economy.

Approved at an executive conference of the State Council, the plan will facilitate the rise of new sectors and propel ongoing economic upgrades, according to a statement released after the meeting.

The plan singles out quantum communication and precision medicine, the seed industry, clean coal, 5G technology and smart robots as particular areas of focus. Endi