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1st LD Writethru: Chinese shares rise after two days of losses

Xinhua, August 26, 2016 Adjust font size:

Chinese stocks rose after two days of falls, as its index gained 0.66 percent on Friday, led by quantum communication and environmental protection shares.

The benchmark Shanghai Composite Index rose 0.06 percent to close at 3,070.31 points. The Shenzhen index closed 0.14 percent higher at 10,693.75 points.

The ChiNext Index, tracking China's NASDAQ-style enterprises, was up 0.42 percent to close at 2,189.75 points.

Turnover on the two bourses fell to 475.2 billion yuan (71.46 billion U.S. dollars), down from 511.1 billion yuan the previous trading day.

Shares related to quantum communication technologies were broadly higher after China launched the world's first quantum communication satellite last week.

Castech Inc., a Fuzhou-based technology company, added 3.35 percent to close at 17.87 yuan. Citic Guoan Information Industry gained 4.57 percent to end at 11.68 yuan.

The environmental protection sector also rallied, with Shenzhen Techand Ecology & Environment rising by the 10-percent daily limit to 18.5 yuan.

Bucking the trend, financial shares posted lackluster performances. The Industrial and Commercial Bank of China, the biggest lender by market value, edged down 0.44 percent to 4.5 yuan. Citic Securities, the country's biggest brokerage, dipped 0.42 percent to finish at 16.73 yuan. Endi