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1st LD-Writethru: Chinese shares close higher Wednesday

Xinhua, February 8, 2017 Adjust font size:

Chinese stocks closed higher on Wednesday, led by brokerages.

The benchmark Shanghai Composite Index rose 0.44 percent closing at 3,166.98 points, while the Shenzhen Component Index closed 0.74 percent higher at 10,130.2 points.

The ChiNext Index, which tracks China's NASDAQ-style enterprises, rose 0.77 percent to close at 1,903.63 points.

Turnover expanded to 386.46 billion yuan (about 56.8 billion U.S. dollars) from 351.14 billion yuan the previous trading day.

China's foreign exchange reserves fell below 3 trillion U.S. dollars in January, for the first time in nearly six years, but still remain the world's largest.

The fall in forex reserves did not weigh on investor sentiment amid tightening signals from the central bank.

Brokerages led the rises. Citic Securities, one of the country's biggest brokerages, climbed 1.35 percent to 16.52 yuan.

Shipbuilders were also among the major gainers. China Shipbuilding Industry added 2.89 percent to close at 7.84 yuan.

Bucking the trend, oil shares posted lackluster performances, with the sub-index down 0.18 percent.

Sinopec, the country's biggest oil refiner, fell 0.34 percent to 5.85 yuan. Endi