Chinese shares continue to rebound Tuesday

Source: Xinhua| 2017-11-21 17:57:55|Editor: Lifang
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BEIJING, Nov. 21 (Xinhua) -- Chinese stocks continued to rebound Tuesday from a losing streak in the last week, with financial shares including brokerages playing the major role in pushing up indices.

The benchmark Shanghai Composite Index went up 0.53 percent to close at 3,410.5 points, while the Shenzhen Component Index gained 1.44 percent to reach 11,602.1 points.

Combined turnover of the two boards stood at 562.53 billion yuan (85 billion U.S. dollars).

Brokerages, insurers and banks led the gains. Leading broker Citic Securities rose substantially by 8.4 percent to 19.22 yuan per share, and Shenzhen-based lender Ping An Bank increased 1.4 percent to 14.45 yuan per share.

Firms related to reforms in state-owned enterprises (SOEs) also rallied as the Ministry of Finance said Tuesday that SOEs maintained rapid profit growth of 24.6 percent in the first 10 months.

Property developers and distilled spirit makers were also among the best performing stocks.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, lost 0.15 percent to close at 1,856.96 points.

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