Mainland stock markets up on port, power rally

Stock markets on the Chinese mainland ended the week in positive territory backed by the port and power sectors, while ChiNext touched the record high level on Friday.

The Shanghai Composite Index on Friday gained by 0.46 percent or 10.35 points to 2,240.81 points, up 0.63 percent from the previous Friday, August 15. The Shenzhen Component Index inched up by 0.61 percent or 48.69 points to 8,059.40 points, with a weekly gain of 0.97 percent.

Combined turnover on the two bourses on Friday was 313.49 billion yuan ($50.96 billion), slightly down from the previous trading day's 315.19 billion yuan.

Stocks linked to ports, power, Internet, software and real estate gained strongly.

Ports and power rallied as China and Mongolia signed new deals on railways, mining and power generation during President Xi Jinping's visit to Mongolia.

Tangshan Port Group Co and Yingkou Port Liability Co soared by the daily limit of 10 percent to 5.12 yuan and 3.22 yuan, respectively. The port sector gained by 3.21 percent on Friday.

Media stocks, which gained throughout the week after President Xi said the country will build several types of media groups, fell back on Friday, with a 1.03 percent decline.

Guangdong Guangzhou Daily Media Co shed 6.58 percent to 20.30 yuan and China Universe Publishing & Media Co dipped 3.79 percent to 16.75 yuan on Friday.

ChiNext, China's NASDAQ-style board for high-tech and start-ups listed in Shenzhen, reached a record high level on Friday, up by 0.96 percent or 13.84 points to 1,461.72 points. The index rose by 4.97 percent week-on-week.