1st LD-Writethru: Chinese shares close higher Friday

BEIJING, Jan. 26 (Xinhua) -- Chinese stocks closed higher Friday as investor confidence was boosted by strong industrial profit data.

The benchmark Shanghai Composite Index went up 0.28 percent to close at 3,558.13. The Shenzhen Component Index closed 0.05 percent higher at 11,557.82.

The ChiNext Index, tracking China's NASDAQ-style board, rose 0.33 percent to end at 1,816.80.

Combined turnover on the two bourses stood at 501.9 billion yuan (79.1 billion U.S. dollars), down from 581 billion yuan the previous trading day.

More than 1,100 shares surged among the two bourses with cement and property sectors gaining most.

Gansu Shangfeng Cement jumped 7.04 percent to close at 12.46 yuan per share and Yunnan Metropolitan Real Estate Development edged up 4.14 percent to end at 5.79 yuan.

Profits of China's major industrial firms increased 21 percent year on year in 2017, the fastest pace since 2012, the National Bureau of Statistics (NBS) said Friday.

NBS statistician He Ping attributed the fast profit growth to the ongoing supply-side structural reform.

"The manufacturing and business environment for enterprises have been improving, as the country has made headway in cutting industrial overcapacity and lowering corporate costs," He said. "The industrial sector is expected to further shift its focus toward high-quality development from high-speed expansion." Enditem