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1st LD-Writethru: China stock market ends higher on logistics shares

Xinhua, February 28, 2017 Adjust font size:

Chinese stocks closed higher on Tuesday, led by logistics companies.

The benchmark Shanghai Composite Index increased 0.4 percent to close at 3,241.73 points. The Shenzhen Component index closed 0.36 percent higher at 10,391.34 points.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, rose 0.02 percent to close at 1,927.16 points.

Combined turnover expanded to 484.51 billion yuan (about 70 billion U.S. dollars) on Tuesday from 467.3 billion yuan the previous trading day.

The stock market has rebounded more than 6 percent since mid-January on signs of economic recovery. However, investors have become cautious, as China shifts toward tighter monetary policies and strengthened market regulations.

China will tighten supervision of the stock market to prevent systematic financial risks, Li Chao, deputy head of the China Securities Regulatory Commission (CSRC), said at the press conference.

Logistics shares led the increases. S.F.Express Co., a leading courier service provider, jumped by the 10-percent daily limit to end at 66.8 yuan.

Bucking the trend, motorbike producers were among the major losers. QJIANG Motorbike Co. fell 4.47 percent to close at 17.52 yuan. Endi