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1st LD-Writethru: Chinese shares close mixed Thursday

Xinhua, July 28, 2016 Adjust font size:

Chinese stocks closed mixed on Thursday, with the benchmark Shanghai Composite Index up 0.08 percent at 2,994.32 points.

The smaller Shenzhen index closed 0.09 percent lower at 10,396.3 points.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, lost 0.73 percent to close at 2,139.74 points.

Combined turnover on the Shanghai and Shenzhen bourses stood at 557.2 billion yuan (85.7 billion U.S. dollars), down from 806.9 billion yuan the previous trading day.

The automobile and shipping sectors performed well while artificial intelligence and computers were among the losers.

China's economy grew slightly faster than expectations in the second quarter of 2016, stable from the first quarter and fueling hopes that the economy is heading for a steady but slower period of development.

The National Bureau of Statistics (NBS) said Wednesday that in June, profits of major industrial firms rose 5.1 percent year on year to 616 billion yuan, widening from the 3.7-percent growth posted in May.

China's State Council on Wednesday called for the speeding up of major infrastructure projects and an increase in private investment to stabilize growth. Endi