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Mainland stock exchanges stay in positive territory

2014-12-22 08:23 Global Times Web Editor: Qin Dexing
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Stock exchanges in the Chinese mainland saw mixed performance on Friday, but ended the week in positive territory.

The benchmark Shanghai Composite Index rose by 1.67 percent or 51.08 points to 3,108.60 points, ending the week with a 5.84 percent gain from the previous Friday, December 12.

The Shenzhen Component Index declined by 0.36 percent or 38.07 points to 10,627.11 points, but ended the week with a 1.58 percent rise.

The CSI 300 index of the 300 biggest listed companies in Shanghai and Shenzhen rose by 1.11 percent to 3,383.17 points, with a strong weekly gain of 5.96 percent.

Total turnover on the two bourses was 801.22 billion yuan ($128.76 billion), up from the previous trading day's 739.49 billion yuan.

Mainland stock exchanges rose in the first three trading sessions last week, led by strong gains in brokerage companies, before falling back on Thursday.

Thursday's weak performance was partly due to the fact that investors were holding onto their cash ahead of new share sales, analysts said.

The latest round of IPOs, the last of this year with 12 new offerings, began on Thursday with Sunflower Pharmaceuticals Group Co starting subscriptions for its IPO. Six more companies started their subscriptions on Friday.

On Friday, the mainland stock markets saw mixed performance as stocks linked to infrastructure, steel, ports and banks rose, while those linked to the media, aviation, insurance, IT and brokerages declined.

China State Contruction Engineering Corp and COSCO Shipping Co both soared by the daily limit of 10 percent to 6.88 yuan and 8.00 yuan, respectively.

New China Life Insurance Co declined by 2.84 percent to 42.34 yuan and Simei Media fell by 7.29 percent to 54.70 yuan.

The ChiNext Index, China's NASDAQ-style board for high-tech and fast-growing start-ups, declined by 2.28 percent or 37.24 points to close at 1,596.81 points, with a weekly decline of 1.65 percent.

In Hong Kong, the Hang Seng Index rose by 1.25 percent or 284.42 points to 23,116.63 points on Friday, with total turnover of HK$95.71 billion ($12.35 billion). The Hang Seng benchmark ended the week 0.6 percent lower than the previous Friday.

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