1st LD-Writethru: Chinese shares close higher Tuesday
Xinhua,March 27, 2018 Adjust font size:
BEIJING, March 27 (Xinhua) -- Chinese stocks closed higher on Tuesday, ending a losing streak for four consecutive trading days, led by strong gains in the software and 5G sectors.
The benchmark Shanghai Composite Index climbed 1.05 percent to end at 3,166.65 points. The Shenzhen Component Index rose 2 percent to 10,775.71 points.
The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 3.6 percent to close at 1,844.69 points.
Combined turnover on the two bourses expanded to 540.4 billion yuan (85.8 billion U.S. dollars) from 470.9 billion yuan the previous trading day.
Most shares gained, with gainers outnumbering losers by 1,237 to 75 in Shanghai and 1,831 to 76 in Shenzhen.
Stocks related to 5G technology surged after news citing a report by the China Academy of Information and Communications Technology which said by 2025, there would be 428 million 5G connections in China.
Shares of six stocks related to 5G technology, including Jones Tech PLC, Zhong Fu Tong Co. and Wanma Technology Co. all surged by the daily limit of 10 percent.
High-tech sectors, especially software manufacturers, also gained. Archermind Technology rose by the 10-percent daily limit to 41.26 yuan per share. Digiwin Software Co. grew 5.45 percent to 15.08 yuan. Enditem