China’s stock market closed higher on Tuesday as heavyweight stocks in Shanghai outperformed small-cap shares in Shenzhen after the government published a guidance for its debt-for-equity swap program on late Monday.
At the close, the Shanghai Composite Index rose 0.56%, at 3,065.25 points, while the Shenzhen Component Index went 0.38% higher to 10,782.31 points.
The ChiNext Index, which tracks China’s NASDAQ-style board for growth enterprises, rose 0.11% to 2,210.86 points.
Total traded amounts of the Shanghai and Shenzhen bourses increased to 183.8 billion yuan and 279.8 billion yuan, respectively.
Most sectors gained in both markets, with shares in steel and defense industries among the biggest gainers.
At the end of trading, 1,713 counters rose, 857 shares declined, and the remaining 365 shares closed flat.
Shanghai – Hong Kong Stock Connect
The Shanghai – Hong Kong Stock Connect today saw a net fund inflow of 1.05 billion yuan, for northbound trade.
Among the total 569 stocks eligible for the northbound trade, 372 counters rose, 135 shares declined, and the balance 62 remained unchanged.
Seven stocks, including China United Network Communications Limited, Kunwu Jiuding Investment Holdings CO.,Ltd, and Wuhan Iron and Steel Company Limited surged by their 10% daily maximum limit.