China A-shares close higher on bargain-hunting

SHANGHAI (AFX) - A-shares in Shanghai and Shenzhen closed higher, as investors hunted for bargains with heavyweight banks and steelmakers leading the gainers, dealers said.

The benchmark Shanghai Composite Index, which covers both A- and B-shares listed on the Shanghai Stock Exchange, closed up 22.47 points, or 1.41 pct, at 1,613.89.

Turnover rose to 24.31 bln yuan from 23.02 bln in the previous session.

The index moved between 1,593.09 and 1,614.55.

The Shanghai A-share Index gained 23.80 points to 1,695.41 on turnover of 24.18 bln yuan and the Shenzhen A-share Index was up 8.45 points at 419.51 on turnover of 15.39 bln yuan.

The FTSE/Xinhua China A 50 Index was up 72.77 points at 5,226.44. The FTSE/Xinhua China A 200 Index added 62.77 points to 3,889.17 and the FTSE/Xinhua China A 600 Index was up 61.85 points at 3,381.0.

(1 usd = 8.00 yuan)

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