Chinese shares close high

Beijing, Dec 21 (IANS) Chinese stocks closed higher on Monday, with heavyweight financial stocks leading the gains.

The benchmark Shanghai Composite Index climbed 1.77 percent to close at 3,642.47 points, Xinhua reported.

The Shenzhen index added 1.54 percent to close at 13,028.31 points.

The total turnover of the two bourses stood at $145.6 billion.

Gainers outnumbered losers by 725 to 227 in Shanghai and 988 to 530 in Shenzhen. Nearly 70 stocks soared by the daily limit of 10 percent.

The financial industry posted handsome gains, with its sub-index rising 2.04 percent. China Minsheng Bank gained 9.9 percent to 9.97 yuan per share. CITIC securities added 4.1 percent to 19.6 yuan.

Liquor producers were also among the day’s winners as alcohol consumption picks up at the end of the year.

Sichuan Tuopai Shede Wine Co., Ltd. rose by the 10 percent daily limit. White liquor producer Kueichow Moutai Co., Ltd. was up 4.7 percent to 227 yuan.

The ChiNext Index, which tracks China’s NASDAQ-style board of growth enterprises, declined one percent in the morning, but clawed back most of the losses in afternoon trading on solid gains in Shanghai and Shenzhen. It closed 0.01 percent lower at 2,829.92 points.

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