LINE

Text:AAAPrint
Economy

Chinese stocks rise on stronger-than-expected data

1
2017-01-20 17:18Xinhua Editor: Wang Fan ECNS App Download

Chinese stocks closed higher Friday as market sentiment was buoyed by data showing the economy performed stronger than expected in the fourth quarter.

The benchmark Shanghai Composite Index went up 0.7 percent to close at 3,123.14 points, while the smaller Shenzhen index closed 1.41 percent higher at 9,906.14 points.

Turnover on the two exchanges expanded to 322.93 billion yuan (around 47 billion U.S. dollars) from 297.89 billion yuan the previous trading day.

The ChiNext Index, which tracks China's NASDAQ-style enterprises, gained 1.99 percent to close at 1,880.75 points.

Official data Friday showed China's economy grew 6.8 percent in the fourth quarter, higher than the market expectation of a 6.7 percent expansion.

For the full year, growth came in at a steady 6.7 percent, well within the government's target range of 6.5 to 7 percent.

The stronger-than-expected data lifted market sentiment, with shares rising across the board.

Meanwhile, China's central bank has continued to pump money to the market this week, easing liquidity conditions ahead of the Lunar New Year.

Cement and paper-making industries were among the day's best performers. China West Construction Group surged by the daily limit of 10 percent to end the day at 11.75 yuan per share.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.