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A-Shares Gain as Volume Touches 3Mth High
The Shanghai Composite Index climbed 0.55% to close at 2,648.12, while the Shenzhen Composite Index added 0.46% to end at 1,074.13 on Thursday, July 29. Trading volumes on the Shanghai and Shenzhen Stock Exchanges were 13.91 billion and 8.38 billion, respectively.
Agricultural Bank of China (1288.HK, 601288.SH) stock became a constituent of the benchmark Shanghai Composite Index, with a weighting of roughly 4.48% of the market, China Business News reported July 29. The lender's stock closed 0.35% lower on Thursday.
Cement companies posted further gains from yesterday on expectations that the government is about to release details of a plan to restructure the cement industry, Sina reports July 29. Xishui Strong Year (600291.SH) increased 10.02%, Gansu Qilianshan Cement (600720.SH) added 4.47% and Anhui Conch Cement (600585.SH) gained 3.27%.
Shenzhen-based companies also continued to rally. Guanghong Holdings (000529.SZ), Shenzhen Hongkai (Group) (000040.SZ) and Milord Real Estate Development Group (000667.SZ) soared 9.98%, 9.95% and 9.92%, respectively.
Aviation technology companies were strong, with Xi'an Aircraft Int'l Corp. (000768.SZ), Jiangxi Hongdu Aviation (600316.SH) and Beijing Aerospace Changfeng (600855.SH) closing 10%, 7.16% and 6.86% higher.
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