Business / Markets

Chinese shares close mixed - March 3

(Xinhua) Updated: 2016-03-03 15:36

BEIJING - Chinese stocks extended their winning streak for a third day Thursday, as market confidence was boosted by the previous two-day rally.

The benchmark Shanghai Composite Index edged up 0.35 percent to close at 2,859.76 points while the smaller Shenzhen index dipped 0.04 percent to 9,762.01 points.

The ChiNext Index, the NASDAQ-style board of growth enterprises, closed 0.52 percent lower at 2,007.08 points.

Total turnover on the two bourses continued to swell, standing at 663.52 billion yuan ($101.44 billion).

Nearly 50 stocks rose by the daily limit of 10 percent, and 116 stocks had risen by over 5 percent by close.

Sub-indices related to international trade, non-ferrous metals and ship building were Thursday's top gainers.

Sinochem International Corp, a Shanghai-based State-owned trade firm, gained 4.42 percent and closed at 9.68 yuan.

Movement eased slightly on Thursday morning at opening, in the wake of the remarkable rally on Tuesday and Wednesday, and swung in positive territory for the rest of the day.

The real estate sector, which remained in the limelight for its remarkable gains during the recent boom, lost some steam Thursday and had only gained 0.14 percent at closing.

Performance by the financial heavyweights was lackluster Thursday, closing 0.06 percent higher.

CITIC Securities, China's largest brokerage, dropped 1.24 percent to close at 15.92 yuan after sitting on gains for 2 days.

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