Chinese shares close higher

7 July, 2020 12:00 AM printer

BEIJING: Chinese stocks soared Monday, with the benchmark Shanghai Composite Index up 5.71 percent to close at 3,332.88 points, the highest in two and a half years.

The Shenzhen Component Index closed 4.09 percent higher at 12,941.72 points.

The combined turnover of stocks covered by the two indices stood at 1.57 trillion yuan (about 221.6 billion U.S. dollars), up from 1.17 trillion yuan on the previous trading day, reports Xinhua.

Gainers overwhelmed losers on both the Shanghai and Shenzhen bourses, where over 100 companies saw their shares hiking by the daily limit of 10 percent, pushing the total market value of China's A-shares to over 10 trillion dollars, a record high since June 2015.

Real estate developers also secured solid gains, as shares of the Beijing-based leading Poly Developments And Holdings Group Co., Ltd. hiked by the daily limit to 17.99 yuan apiece.