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Economy

China's major stock indices surge more than 5 pct

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2019-02-25 16:16:33CGTN Editor : Gu Liping ECNS App Download

Major stock indices in China surged more than 5 percent Monday, with the benchmark Shanghai Composite Index up 5.6 percent to 2,961.28 points.

The Shenzhen Component Index closed 5.59 percent higher at 9,134.58 points.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 5.5 percent to close at 1,536.37 points.

The ChiNext Index, together with the Shenzhen Component Index and the Shenzhen SME (small and medium-sized enterprises) Board Index, are major indices reflecting the performance of stocks listed on the Shenzhen Stock Exchange.

Meanwhile, China's Hushen 300 index futures also closed higher with the contract for March 2019 up 8.27 percent to finish at 3,800.2 points.

The April 2019 contract gained 8.31 percent to close at 3,806 points. The June 2019 contract was up 8.75 percent to finish at 3,817.6 points. The September 2019 contract went up 8.81 percent to finish at 3,803.8 points.

The stock-index contracts, agreements to buy or sell the Hushen 300 Index at a preset value on an agreed date, are designed to allow investors to bet on and profit from either gains or declines in the market.

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