Xinhua
31 Jul 2020, 14:29 GMT+10
BEIJING, July 31 (Xinhua) -- Chinese shares closed higher Friday as freshly released indicators pointing to further economic recovery added to investor confidence.
The benchmark Shanghai Composite Index went up 0.71 percent to end at 3,310.01 points while the Shenzhen Component Index closed 1.27 percent higher at 13,637.88 points.
The combined turnover of stocks covered by the two indices expanded to nearly 1.15 trillion yuan (about 164.6 billion U.S. dollars) from 1.09 trillion yuan the previous trading day.
The gain came after the release of the official purchasing managers' index (PMI), a closely-watched indicator that measures factory and service sector activities.
The PMI for China's manufacturing sector rose to 51.1 in July from 50.9 in June, the fifth straight month it has remained in expansionary territory, the National Bureau of Statistics said Friday.
The PMI for China's non-manufacturing sector also stayed above the boom-bust line of 50 to stand at 54.2 in July, showing sustained recovery in the service sector.
Tourism-related industries were among the biggest winners Friday, with the shares of Tibet Tourism Co., Ltd. surging by the daily limit of 10 percent.
The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 1.89 percent to close at 2,795.4 points.
Get a daily dose of Asia Pacific Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Asia Pacific Star.
More InformationDHARAMSHALA, India: The Dalai Lama is set to address a significant three-day conference of Buddhist leaders this week, coinciding with...
BEIJING, China: China's national soccer team may struggle to stir excitement, but its humanoid robots are drawing cheers — and not...
]LONDON, U.K.: A World Health Organization (WHO) expert group investigating the origins of the COVID-19 pandemic released its final...
FRANKFURT, Germany: Germany has become the latest country to challenge Chinese AI firm DeepSeek over its data practices, as pressure...
Nearly three months after a devastating earthquake struck Myanmar, the country remains trapped in a deepening crisis, compounded by...
Moscow seeks to build a full-fledged partnership, according to its ambassador in Kabul Moscow has officially recognized the Taliban...
NEW YORK, New York -U.S. stock markets closed with broad gains on Thursday, led by strong performances in U.S. tech stocks, while European...
LONDON/STOCKHOLM: The Persson family is ramping up its investment in the H&M fashion empire, fueling renewed speculation about a potential...
PARIS, France: L'Oréal is making a fresh play in the booming premium haircare segment with a new acquisition. The French beauty conglomerate...
MENLO PARK, California: Robinhood is giving European investors a new way to tap into America's most prominent tech names — without...
NEW YORK, New York - U.S. stocks diverged on Wednesday for the second day in a row. The Standard and Poor's 500 hit a new all-time...
NEW YORK CITY, New York: The U.S. dollar continues to lose ground, weighed down by growing concerns over Washington's fiscal outlook...