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1st LD-Writethru: Chinese shares close higher Thursday

Xinhua, August 4, 2016 Adjust font size:

Stocks related to self-driving technology and the petroleum industry helped the market close higher Thursday.

The benchmark Shanghai Composite Index increased 0.13 percent to reach 2,982.43 points.

The Shenzhen index closed 0.83 percent higher at 10,366.5 points. The ChiNext Index, China's NASDAQ-style board of growth enterprises, was up 1.01 percent to close at 2,129.65 points.

Several companies in the self-driving industry saw encouraging performance Thursday. Zhejiang Jingu Co. rose by the daily limit of 10 percent, and Zhejing Vie Science & Technology Co. and ZYNP Corp. also grew significantly.

Earlier this week, Boston Consulting Group (BCG) and the World Economic Forum released a report saying about 81 percent of surveyed Chinese consumers, roughly 500, were willing to try autonomous cars, an increase from 75 percent last year.

China's petroleum stocks also gained notably Thursday, led by a 6.87 percent rise in Sino Geophysical Co.'s stock.

The State Council, China's cabinet, issued a guideline Wednesday, ordering that outdated petrochemical facilities be closed, production consolidated and pollution reduced to increase its competitiveness.

Trading remained thin, even with the combined turnover on the Shanghai and Shenzhen bourses increasing to 404.8 billion yuan (about 60.92 billion U.S. dollars), from 381.9 billion yuan the previous trading day. Endi