Chinese shares jump on 1st trading day of Year of Pig

#CHINA-STOCKS (CN)

Investors are seen at a stock exchange in Hangzhou, east China’s Zhejiang Province, Feb. 11, 2019, the first trading day of the Year of the Pig. China’s major stock indices ended notably higher Monday as investors greeted the Year of the Pig in China’s lunar calendar with bullish sentiment. The benchmark Shanghai Composite Index closed 1.36 percent higher at 2,653.9 points while the Shenzhen Component Index surged by 3.06 percent to close at 7,919.05 points. (Xinhua/Long Wei)

BEIJING, Feb. 11 (Xinhua) — China’s major stock indices ended notably higher Monday as investors greeted the Year of the Pig in China’s lunar calendar with bullish sentiment.

The benchmark Shanghai Composite Index closed 1.36 percent higher at 2,653.9 points while the Shenzhen Component Index surged by 3.06 percent to close at 7,919.05 points.

Companies in the agricultural sector were among the biggest winners, with Jiangxi Zhengbang Technology, a Shenzhen-listed agro-processing firm, jumping by the daily limit of 10 percent.

Liquor makers saw a strong performance, with the share price of top liquor brand Kweichow Moutai jumping 4.71 percent, bringing the company’s market capitalization to over 911 billion yuan (135 billion U.S. dollars).

Beijing Jingxi Culture & Tourism Co., Ltd, an investor of Chinese sci-fi blockbuster “The Wandering Earth”, surged by the daily limit after the film claimed the winner of the Chinese box office during the week-long Spring Festival holiday.

The film had earned over 1.94 billion yuan (about 288 million U.S. dollars) since its release on Tuesday as of 7:00 p.m. Sunday, according to Maoyan, a professional box office tracker.

The ChiNext Index, China’s NASDAQ-style board of growth enterprises, gained 3.53 percent to close at 1,316.1 points.

Source: Xinhua

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