Chinese stocks up 1.18% on Mon

Chinese stocks ended higher on Monday, with market heavyweights leading the gains.

The benchmark Shanghai Composite Index, which covers both A shares and B shares on the Shanghai Stock Exchange, increased 1.18% or 36.30 points to close at 3,124.67 points after fluctuating between 3,128.31 and 3,090.10points.

The Shenzhen Component Index on the smaller Shenzhen Stock Exchange rose 1.89% or 231.13 points to 12,489.92 points, after touching an intraday low of 12,301.92 points.

Gainers in the Shanghai market outnumbered decliners 414 to 388, while 52 were unchanged.

Aggregated turnover on the two bourses hit RMB 303.16 billion.

Asia's largest oil refiner, Sinopec<600028><0386><SNP>, rose 3.40% to close at RMB 11.86. Market heavyweight PetroChina<601857><0857><PTR>, the nation's top oil producer, edged up 0.46% and closed at RMB 15.16.

Steelmakers were gainers. China's largest steelmaker, Baoshan Iron and Steel Co<600019>, jumped 8.36% to RMB 7.91. Liuzhou Iron & Steel Co Ltd<601003> surged by the daily limit of 9.94% to RMB 7.08. Laiwu Steel Corp<600102>, one of the top ten steelmakers in China, rose 10.01% to RMB 12.86.

Nonferrous metal firms were also gainers. Aluminum Corp of China Ltd (Chalco)<601600><2600><ACH>, the nation's largest aluminum producer, increased 4.93% to RMB 13.20. Shenzhen-listed Yunnan Copper Co Ltd<000878> rose 1.57% to RMB 22.90.

Share prices of securities firms ended higher. CITIC Securities Co Ltd<600030>, the largest listed brokerage in China, jumped 6.83% to RMB 31.61. Shenzhen-listed Northeast Securities Co Ltd<000686> jumped 9.68% to close at RMB 37.85. Haitong Securities Co<600837>, China's second largest broker in terms of assets, swelled 4.58% to RMB 18.26.

Bank stocks ended higher. China Construction Bank Corp (CCB)<601939><0939>, one of the country's Big Four state-owned commercial banks, rose 2.81% to RMB 6.58. Bank of Communications<601328><3328> increased 1.61% to RMB 10.07. Industrial and Commercial Bank of China (ICBC)<601398><1398>, the world's largest lender by market value, grew 1.28% to RMB 5.55.

Coal stocks performed well. Datong Coal Industry Co Ltd<601001>, the country's second-largest coal producer by capacity, rose 2.41% to RMB 40.87. China Coal Energy Co Ltd<601898><1898>, the country's second-largest coal miner by revenue, increased 0.45% to RMB 13.32.

Property stocks ended mixed. China Vanke Co Ltd<000002><200002>, the country's largest publicly traded residential property developer, increased 1.19% to RMB 14.45. Poly Real Estate Group Co Ltd<600048>, China's second-largest developer by market value, fell 2.82% to RMB 29.65.

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