China stocks extend rallies

Beijing, Oct 9 (IANS) Chinese shares continued to rise on Friday, propped up by strong performance of securities brokerages.

The benchmark Shanghai Composite Index went up 1.27 percent to end at 3,183.15 points, and the smaller Shenzhen Component Index rose 1.4 percent to close at 10,540.19 points, Xinhua news agency reported.

Total turnover on the Shanghai and Shenzhen bourses increased to 596.53 billion yuan ($93.95 billion), up from 587.62 billion yuan on the previous trading day.

Securities companies led the rises. Twenty-three listed brokerages, including a number of heavyweights, saw an average increase of 3.13 percent.

Orient securities company was the biggest winner with its shares up by 7.66 percent.

Electric charger manufacturers also performed well as the government released a guideline on Friday to step up the construction of charging stations for new energy vehicles.

The ChiNext Index, which tracks China’s NASDAQ-style board of growth enterprises, gained 1.2 percent to close at 2,216.66 points.

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