BEIJING, Aug. 19 (Xinhua) — Chinese shares rallied across the board on Monday with the Shenzhen-based stocks leading the gains after a document said China will build the southern city of Shenzhen into a pilot demonstration area of socialism with Chinese characteristics.
The benchmark Shanghai Composite Index was up 2.10 percent, at 2,883.10 points, while the Shenzhen Component Index closed 2.96 percent higher at 9,328.96 points.
The combined turnover of stocks on the two exchanges stood at roughly 581.6 billion yuan (about 82.7 billion U.S. dollars), expanding from 430.25 billion yuan the previous trading day.
Most stocks gained, with gainers outnumbering losers by 1,411 to 57 on the Shanghai bourse and 2,079 to 59 in Shenzhen.
Shenzhen, a major city in south China’s Guangdong Province, as well as the country’s first special economic zone, will be built into a pilot demonstration area of socialism with Chinese characteristics, according to the document issued by the Communist Party of China Central Committee and the State Council on Sunday.
The building of the demonstration area will help deepen reform, expand opening-up comprehensively and implement the Guangdong-Hong Kong-Macao Greater Bay Area plan.
Lifted by the news, over 60 Shenzhen-based stocks rose by the daily 10-percent limit.
Brokerage firms were also among the biggest winners. Citic Securities Co., Ltd., one of China’s leading brokerage firms, soared 8.44 percent to finish at 23.13 yuan per share.
The ChiNext Index, China’s NASDAQ-style board of growth enterprises, gained 3.50 percent to close at 1,622.84 points.
LINK ORIGINAL: Xinhuanet