1st LD-Writethru: China stocks recover on Tuesday
Xinhua, April 25, 2017 Adjust font size:
Chinese stocks retrieved some lost ground on Tuesday after the previous day's decline, while market concerns about stricter financial supervision remained.
The benchmark Shanghai Composite Index closed 0.16 percent higher at 3134.57 points, following a 1.37-percent drop on Monday.
The smaller Shenzhen Component Index ended 0.73 percent higher at 10,165.22 points.
Total turnover on the two bourses stood at 386.9 billion yuan (56.2 billion U.S. dollars), down from the previous day's 411.9 billion yuan.
The ChiNext Index, China's NASDAQ-style board of growth enterprises, rose 0.5 percent to close at 1,818.87 points.
Stocks related to Xiongan New Area, a new economic zone to be built near Beijing, rallied after days of weakness. Shares of five companies, including a property developer and an environmental firm, rose by the daily limit of 10 percent.
Liquor makers also performed strongly, with Kweichow Moutai rising 5.1 percent to 418.89 yuan.
However, analysts said the low turnover showed investors were still cautious due to anxiety over strengthened financial regulation.
China's financial regulators have stepped up oversight and issued harsher punishments to remedy shortcomings and promote efficiency in a campaign to protect against systemic financial crisis. Endi