ecns [expanded by feedex.net]: Mainland exchanges rebound after steep decline on Monday

ecns [expanded by feedex.net]

ecns

Mainland exchanges rebound after steep decline on Monday
http://www.ecns.cn/business/2015/01-21/151539.shtml
Jan 20th 2015, 22:58





2015-01-21 07:58


Mainland stock exchanges recovered on Tuesday after Monday's steep fall.


The benchmark Shanghai Composite Index rose by 1.82 percent or 56.70 points to 3,173.05 points, and the Shenzhen Component Index gained by 2.09 percent or 225.55 points to 10,996.48 points.


The CSI 300 Index of the biggest companies traded on the bourses in Shanghai and Shenzhen rose by 1.22 percent to 3,396.22 points.


Total turnover on the two bourses was 710.06 billion yuan ($114.27 billion), up from the previous trading day's 701.33 billion yuan.


The market was lifted Tuesday by strong gains for stocks linked to IT, autos and ports.


Tongfang Co, engaged in the Internet services, surged by the daily limit of 10 percent to 13.49 yuan and Founder Technology Group jumped by 8.11 percent to 5.20 yuan.


Meanwhile, banks and brokerages, which fell more than 9 percent on average on Monday, saw further declines.


Brokerages dropped more than 5 percent on average on Tuesday. Citic Securities tumbled 9.89 percent to 26.69 yuan and Haitong Securities slumped by 8.83 percent to 18.90 yuan.


On Friday, the China Securities Regulatory Commission (CSRC) suspended the two brokerages, as well as Guotai Junan Securities, from opening new accounts for margin trading for three months.


China CITIC Bank Corp fell by 2.26 percent to 6.93 yuan and Bank of China inched down by 0.67 percent to 4.45 yuan.


The ChiNext Index, China's NASDAQ-style board for high-tech and fast-growing start-ups, jumped by 4.34 percent or 70.79 points to 1,700.85 points on Tuesday.


In Hong Kong, the Hang Seng Index rose by 0.90 percent to 23,951.16 points, with total turnover of HK$88.49 billion ($11.41 billion).








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