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1st LD-Writethru: Chinese shares close higher Friday

Xinhua, December 16, 2016 Adjust font size:

China's main stock exchange closed higher Friday as investors adjusted to higher U.S. interest rates.

The benchmark Shanghai Composite Index edged up 0.17 percent, to close Friday at 3,122.98 points.

The smaller Shenzhen index closed 0.77 percent higher at 10,334.76 points. The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 1.13 percent to close at 1,998.11 points.

Turnover on the two exchanges stood at 433.7 billion yuan (62.8 billion U.S. dollars).

Sectors including Internet finance, cement and auto manufacturing performed well as sentiment calmed over the new reality of a future with higher U.S. interest rates.

The Federal Reserve Wednesday raised the benchmark interest rate by 25 basis points, the first increase in 2016.

The Fed's updated economic projections indicate that the central bank expects to raise rates three times next year, compared with the suggestion in September projections that it would be raised twice.

Xinjiang Qingsong Building Materials and Chemicals rose 1.67 percent to end the day at 4.86 yuan per share, while Dongfeng Automobile closed 3.89 percent higher at 6.94 yuan. Endit