Shanghai shares ahead as markets rally

2013-08-28 01:13:59 GMT2013-08-28 09:13:59(Beijing Time)  Global Times

Stock markets on the Chinese mainland ended with victories Tuesday, building on their lead from Monday as trading sentiment continued to run high.

The Shanghai Composite Index rose 7.09 points, or 0.34 percent, to close at 2,103.57; while the Shenzhen Component Index advanced 7.20 points, or 0.09 percent, to finish at 8,341.77.

Combined turnover totaled 216.7 billion yuan ($35.37 billion), compared with Monday's 214.2 billion yuan.

Both indices wavered during morning trading as banking and securities stocks entered corrections after their rallies Monday. In the afternoon, the Internet, software and media sectors outperformed, pulling the Shanghai Composite back above the 2,100-point mark.

Shanghai local stocks, marine shipping and logistics shares also advanced Tuesday as enthusiasm for Shanghai's free trade zone continued to foster hope of improved earnings for companies exposed to the project. CTS International Logistics Corp jumped by the 10-percent daily limit to close at 9.42 yuan. Both Tianjin Marine Shipping Co and Zhuhai Port Co hit the daily limit to finish at 4.64 yuan and 3.69 yuan respectively.

Stocks related to the Qianhai development zone in Shenzhen also got a nudge after Guangdong provincial authorities introduced a 36-item plan to support the zone. China International Marine Containers (Group) Co advanced 2.73 percent to 11.30 yuan Tuesday.

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