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1st LD Writethru: Chinese shares continue to gain

Xinhua, September 30, 2016 Adjust font size:

China's stocks continued to rise on Friday helped by strong performance of distilled spirit and property shares, but the market remained bearish over the first three quarters.

The benchmark Shanghai Composite Index (SCI) went up 0.21 percent to 3,004.7 points.

The smaller Shenzhen Component Index gained 0.53 percent closing at 10,567.58 points. China's NASDAQ-style ChiNext Index edged up 0.17 percent to close at 2,149.9 points.

Distilled spirit makers and property developers led Friday's rises. Kweichow Moutai, a high-end liquor producer, grew 2.38 percent to 297.91 yuan (44.61 U.S. dollars). China Vanke, the country's largest real estate developer, gained 0.69 percent to 26.17 yuan.

Despite the mild rises, trading was low due to the upcoming week-long national holiday. Total turnover on the two bourses stood at 298.7 billion yuan, slipping further from the previous trading day.

The thin trading suggests the market has yet to fully recover from its turmoil a year ago. The SCI declined 15.1 percent in the first nine months of 2016, one of the most lackluster performances in the world. Endi