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Chinese shares rebound by midday Thursday

Xinhua,December 28, 2017 Adjust font size:

BEIJING, Dec. 28 (Xinhua) -- Despite opening lower, China's stocks rebounded during the morning session Thursday, partly due to strong support from distilled spirits, non-ferrous metals and brokerages.

The benchmark Shanghai Composite Index went up 0.48 percent to end the morning session at 3,291.63.

The Shenzhen Component Index gained 0.71 percent to 10,988.54. The ChiNext Index, China's NASDAQ-style board, was up 0.29 percent to 1,750.22 points.

Distilleries led the gains, with the sub-index up 3.41 percent. Kweichow Moutai, China's leading liquor producer, jumped 5.33 percent to nearly 700 yuan (around 107 U.S. dollars) after the company predicted a 50-percent increase in revenue this year and announced price hikes.

Sectors including non-ferrous metals, textile machinery, media and entertainment, and non-banking finance also rose. Enditem

 

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