1st LD Writethru: China key stock index rises for third day
Xinhua, February 10, 2017 Adjust font size:
Chinese stocks rose for a third-straight day Friday, led by infrastructure and material shares.
The benchmark Shanghai Composite Index rose 0.42 percent to close at 3,197.6. The Shenzhen Component Index closed 0.04 percent higher at 10,186.38.
The ChiNext Index, China's NASDAQ-style board of growth enterprises, fell 0.49 percent to close at 1,904.68.
Turnover expanded to 559.43 billion yuan (81.31 billion U.S. dollars) from 458.6 billion yuan the previous trading day.
Investor sentiment improved as China announced better-than-expected January trade data.
China's trade staged a strong rebound last month, with exports and imports both up significantly. Exports in yuan-denominated terms rose 15.9 percent year on year, while imports increased 25.2 percent.
Infrastructure and building material shares led the increases, as China pledged to push the Belt and Road initiative.
Lingyuan Iron and Steel Co. jumped by the 10-percent daily limit to end at 3.33 yuan. Gansu Shangfeng Cement Co. finished at 13.7 yuan, up 10 percent.
Bucking the trend, shipbuilders were among the major losers. China State Shipbuilding Corp. retreated 2 percent to close at 30.16 yuan. Endi