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Chinese shares rally Friday

Xinhua | Updated: 2019-05-10 15:33

An investor surveys a screen displaying prices of shares at a stock brokerage house in Hangzhou, East China's Zhejiang province, May 10, 2019. [Photo/IC]

BEIJING -- Major Chinese stock indices, led by gainers in the high-tech sector, ended higher Friday, with the benchmark Shanghai Composite Index jumping 3.10 percent to close at 2,939.21 points.

The Shenzhen Component Index closed 4.03 percent higher at 9,235.39 points.

The combined turnover of stocks in the two indices stood at 610.2 billion yuan (about $89.9 billion), expanding from 434 billion yuan the previous trading day.

Most shares gained, with gainers outnumbering losers by 1,427 to 20 at the Shanghai bourse and 2,089 to 36 in Shenzhen.

Stocks in 5G, homegrown chips and software sectors led the gain, with multiple shares rising above the 10-percent daily limit. Shares of Wutong Holding Group Co. Ltd. and Suzhou Good-Ark Electronics climbed 10.07 and 10.05 percent to finish at 6.34 and 6.79 yuan per share, respectively.

Shares of Chinese liquor producers, rebounding significantly, were also among the winners. Share prices of Wuliangye and Kweichow Moutai surged 8.05 and 6.63 percent, respectively.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 4.38 percent to close at 1,533.87 points Friday.

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