Off the wire
• Suspected al-Qaida suicide bombing hit police center in southern Yemen  • Urgent: 30 killed in blast near Syria's city of al-Bab  • China treasury bond futures close mixed Friday  • China Hushen 300 index futures close higher Friday  • Spotlight: China's positive image in the U.S. a natural progression  • East China fights to save water resources  • Hisense debuts dual-screen smartphone  • China's largest production base for industrial drones under construction  • Tokyo stocks close down on yen's strength, concerns for U.S. tax reforms  • He Lifeng appointed NDRC director  
You are here: 　 Home

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

Xinhua, February 24, 2017 Adjust font size:

Chinese stocks picked up Friday boosted by sectors related to centrally-owned state companies, but trading volume shrank from the previous trading day.

The benchmark Shanghai Composite Index ended the day up 0.06 percent at 3,253.43 points. The smaller Shenzhen index closed 0.11 percent higher at 10,443.73 points.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 0.65 percent to close at 1,938.44 points.

Combined turnover decreased to about 476 billion yuan (about 69 billion U.S. dollars) on Friday from nearly 514 billion yuan the previous trading day.

Chinese stocks fell slightly to end a three-day rising streak Thursday. The indices were advanced by centrally-owned state companies in the ship building and telecommunication sectors on Friday.

China United Network Communications rose 8.1 percent to close at 7.08 yuan and China CSSC Holdings gained 1.59 percent to close at 30.04 yuan.

Mixed-ownership is expected to help reform China's centrally administered state-owned enterprises (SOEs), said Xiao Yaqing, head of the State-Owned Assets Supervision and Administration Commission of the State Council, on Thursday.

China has 102 central SOEs, which manage the bulk of the country's state assets. The companies saw their combined profits and revenues both return to growth in 2016. Endi