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Chinese Shares Close Higher Monday-March 13
 

Chinese stocks closed higher on Monday on an upbeat outlook for the country's economic growth.

The benchmark Shanghai Composite Index went up 0.76 percent to 3,237.02 points.

The smaller Shenzhen index closed 1.04 percent higher at 10,559.88 points. The ChiNext Index, which tracks China's NASDAQ-style enterprises, gained 1.07 percent to close at 1,970.88 points.

Combined turnover expanded to 474.6 billion yuan (about 68.79 billion U.S. dollars) Monday from 435.1 billion yuan the previous trading day.

The stock markets staged a V-shaped rebound after dipping by over 0.5 percent in the morning partly due to expectations of an upcoming U.S. Fed rate hike.

Various senior Chinese officials made reassuring comments about the state of the economy in news conferences on the sidelines of the National People's Congress in Beijing during the weekend.

Stocks related to real estate and non-ferrous metals led the gains while shares in the catering sector and industrial zone development fell.

China will release a string of economic data for the first two months of this year, including industrial production and fixed-asset investment Tuesday, which is expected to pick up in growth.


(www.chinaview.cn 2017-03-14)
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