China stocks close higher Thursday

Beijing, Sep 24 (IANS) Chinese shares rose on Thursday, with the benchmark Shanghai Composite Index gaining 0.86 percent to end at 3,185.62 points.

The Shenzhen Component Index rose 1.04 percent to close at 10,238.04 points, Xinhua news agency reported.

Total turnover on the two stock exchanges came in at about 540 billion yuan ($84.65 billion), down from 578.2 billion yuan the previous trading day.

A preliminary Caixin survey showed on Wednesday that the flash China general manufacturing PMI plunged to a 78-month low of 47.0 in September from 47.3 in August.

The National Development and Reform Commission, China’s top economic planner, reiterated that China is capable of reaching its GDP growth target of about 7 percent on Tuesday and refuted claims of inauthentic growth data on Wednesday.

Shares related to touch screens, underground pipelines and media led the gains on Thursday.

Luoyang Glass Company Limited and ChineseAll Digital Publishing Group Co.Ltd., both surged by the daily limit of 10 percent to end at 25.62 yuan and 101.2 yuan, respectively.

The ChiNext Index, which tracks China’s NASDAQ-style board of growth enterprises, gained 1.38 percent to close at 2,106.59 points.

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