Strong heavyweights lift China stocks

GMT 17:55 2014 Monday ,11 August

Arab Today, arab today Strong heavyweights lift China stocks

Chinese shares higher
Beijing - XINHUA

Chinese shares closed higher on Monday, lifted by strong performances by heavyweights ranging from securities and banks to railways.
The benchmark Shanghai Composite Index went up 1.38 percent to finish at 2,224.65 points, and the Shenzhen Component Index gained 1.58 percent to close at 8,009.73 points.
Total turnover on the two exchanges expanded to 279.8 billion yuan (45.5 billion U.S. dollars) from 243.65 billion yuan the previous trading day.
Chinese authorities on Monday unveiled a set of policies to support development and efficient use of land surrounding railway stations, a move to guide and support railway investment amid the country's urbanization drive.
The State Council said it encourages railway operators to efficiently use and mobilize existing land resources, including the renovation of old railway stations and peripheral areas, in order to help companies fund railway projects and increase revenues.
Buoyed by the news, railway-related stocks rose across the board. Nanjing Kangni Mechanical and Electrical Co., a manufacturer of door systems for railway vehicles, surged by the daily limit of 10 percent to end the day at 17.57 yuan per share.
The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, also gained 20.34 points, or 1.48 percent, to end at 1,397.78 points on Monday.

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