ecns [expanded by feedex.net]: China's stocks close higher on May 19

ecns [expanded by feedex.net]

ecns

China's stocks close higher on May 19
http://www.ecns.cn/business/2015/05-19/165981.shtml
May 19th 2015, 08:06




Chinese shares ended higher on Tuesday, with the benchmark Shanghai Composite Index surging 3.13 percent, or 134.06 points, to finish at 4,417.55 points.


The Shenzhen Component Index soared 3.10 percent, or 454.74 points, to close at 15,127.38 points.


Heavyweight stocks posted robust performances, with banks, securities, insurance, real estate, nonferrous metal and infrastructure among the biggest winners.


Huatai Securities Co. surged by the daily limit of 10 percent to close at 30.04 yuan per share. Beijing Urban Construction Investment & Development Co. gained 4.32 percent to close at 21.74 yuan.


Shares related to the Internet, electronic information, medical equipment and software were among the losers.


Jiangsu HopeRun Software Co. lost 4.77 percent to close at 69.30 yuan per share. Well Lead Medical Co. plummeted by 2.47 percent to close at 77.53 yuan.


Market sentiment appears to have been boosted after China's State Council unveiled a "Made in China 2025" national plan to promote more sophisticated manufacturing over the next 10 years on Tuesday.


It was also helped by the recent pilot program in Shandong Province to transfer 3.3 billion yuan (around 539 million U.S. dollars) of state-owned assets into social security funds, a move which freed up money to be invested in the stock market.


The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 1.35 percent, or 44.29 points, to end at 3,322.77 points.




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