Mainland stock exchanges surge upward after holidays

Stock markets on the Chinese mainland began the post-lunar new year holidays on a positive note with resumption of trading on Friday.

The benchmark Shanghai Composite Index inched up 11.41 points or 0.56 percent from January 29, the last trading day before the holidays began, to 2,044.50 points on Friday.

The Shenzhen Component Index was up 43.94 points or 0.58 percent from January 29 to 7,616.57 points on Friday.

Combined turnover on the two bourses on Friday was 181.78 billion yuan ($29.97 billion), up from the previous trading day's 179.9 billion yuan.

Shares linked to lottery, media, satellite and communication and information technology led gains on Friday.

Internet financial information services provider Shanghai DZH soared by the daily limit of 10 percent to 8.82 yuan on Friday while Jishi Media also jumped the daily limit of 10 percent to 11.42 yuan.

The National Development and Reform Commission published Opinions on Promoting the Development of Geographical Information Industry on January 30, boosting the related shares.

Satellite firm China Spacesat Co gained by 7.87 percent to 20.57 yuan and Qiming Information Technology Co soared by the daily limit of 10 percent to 10.04 yuan.

Investors welcomed the beginning of the 22nd Winter Olympic Games in Sochi, Russia, boosting sports-related stocks on Friday.

China Sports Industry Group jumped the daily limit of 10 percent to 9.78 yuan on Friday. A consulting unit of the company and Beijing U-Tour International Travel Service partnered in June 2013 to form the only authorized ticket seller for Chinese tourists to the Sochi Games, according to the Xinhua News Agency.

Meanwhile stocks in mobile game firms, automakers and insurers weighed on the market.

Shares in the country's leading insurer Ping An Insurance Co fell 2.38 percent to 38.21 yuan while Chongqing Chang-an Automobile Co declined 3.79 percent to 10.40 yuan.

ChiNext, China's NASDAQ-style board for high-tech and fast-growing start-ups listed in Shenzhen, gained strongly on Friday, rising 36.71 points or 2.45 percent from the previous trading day to 1,532.69 points, a new record high.