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1st LD-Writethru: Chinese shares gain amid thin trading

Xinhua, February 16, 2017 Adjust font size:

Chinese stocks picked up Thursday boosted by financial and construction material heavyweights, but trading volume shrank from the previous trading day.

The benchmark Shanghai Composite Index rose 0.52 percent to 3,229.62 points. The smaller Shenzhen index closed 0.75 percent higher at 10,253.96 points.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 0.28 percent to close at 1,897.63 points.

Combined turnover decreased to about 452 billion yuan (about 66 billion U.S. dollars) on Thursday from nearly 520 billion yuan the previous trading day.

Chinese stocks fell slightly to end a five-day rising streak Wednesday. The indexes were advanced by banking, securities and construction material sectors on Thursday.

Jiangsu Jiangyin Rural Commercial Bank surged by the daily limit of 10 percent to close at 16.23 yuan, and Central China Securities also rose by the daily limit of 10 percent to close at 10.57 yuan.

Cement and other construction material stocks rose as more infrastructure projects are in the pipeline. Xinjiang Tianshan Cement jumped 9.82 percent to close at 13.75 yuan Thursday.

China's top economic planner approved 18 large fixed asset investment projects with investment totalling 153.9 billion yuan last month amid efforts to stabilize economic growth by boosting infrastructure investment.

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