Chinese shares continue to soar with major index up 3.8%

Chinese stock markets continued their last week's strong growth on Monday with major index to close at 1,664.09 points, or 3.82 percent higher.

The hike follows last week's bullish market performance, that pushed the country's major stock market index to exceed 1,500 points and 1,600 points levels in a single week.

After jumping by 3.95 percent on last Monday, the Composite Stock Index on the Shanghai Stock Exchange, which comprises yuan-denominated A shares and foreign currency B shares, closed at 1,664.09 points, up by 61 points, or 3.82 percent. Total turnover was 52.8 billion yuan (6.6 billion U.S. dollars).

The major index of Shenzhen Stock Exchange, the Shenzhen Component Index, jumped by 184.87 points, up 4.43 percent, to close at 4,358.63 points, with a total turnover of 29.9 billion yuan. It grew by 4.36 percent last Monday.

The share price of bellwether Yangtze Hydroelectric Co. was up by 4.1 percent, and Sinopec up by 2.84 percent, while G Baosteel was up 5.08 percent.

Prices of 1,089 shares climbed with those of 15 shares staying at previous levels while the prices of 69 shares went down.

Source: Xinhua