Chinese Shares Gain Ground On Tuesday

BEIJING, May 9 (APP - UrduPoint / Pakistan Point News - 09th May, 2017 ) : Chinese stocks rose slightly to end a five-day losing streak Tuesday boosted by stocks related to the Belt and Road Initiative.

The benchmark Shanghai Composite Index went up 0.06 percent to end the day at 3,080.53 points. The smaller Shenzhen Component Index closed 0.53 percent higher at 9,885.34 points. The ChiNext Index, China's NASDAQ-style board of growth enterprises, ended 0.77 percent higher to close at 1,802.49 points.

More than 2,000 stocks across the two bourses gained, and stocks related to the Belt and Road Initiative, including power and infrastructure construction sectors, led the gains. Nuode Investment jumped 9.27 percent to close at 14.

14 Yuan (2.04 U.S.

dollars), and Guangxi Wuzhou Communications rose 4.3 percent to close at 6.07 yuan. Nearly 20 more countries and over 20 international organizations are expected to sign cooperative documents with China during the Belt and Road Forum for International Cooperation from May 14 to 15 in Beijing, which will draw representatives from 110 countries.

Xiao Yaqing, head of State-owned Assets Supervision and Administration Commission (SASAC), said on Monday that over the last three years, 47 centrally administered state-owned enterprises (SOEs) have taken part in 1,676 projects in countries and regions along the B&R covering energy, infrastructure and industrial cooperation.