Stock markets on the Chinese mainland continued to advance Monday amid gains in property stocks and an improvement in trading sentiment.
The Shanghai Composite Index added 11.15 points, or 0.48 percent, to finish at 2,328.22; while the Shenzhen Component Index was up 130.55 points, or 1.38 percent, to close at a six-month high of 9,562.85.
Combined trading volume at the two exchanges stacked up to 220 billion yuan ($35.36 billion) Monday, up from Friday's total of 207.4 billion yuan.
Both the Shanghai and Shenzhen markets opened higher Monday on the resumption of trading of China Vanke Co's yuan-denominated A-shares and Hong Kong dollar-denominated B-shares - both of which were voluntarily suspended from trading on December 26. The comeback sparked a rally in the property sector which lasted until the close of trading.
Vanke announced Friday night that it plans to convert its Shenzhen-listed B-shares into H-shares, confirming earlier speculations that the developer was at work on such a plan when it suspended trading on its shares late last month. "The H-share market has a bigger appeal than the B-share market as Vanke starts to actively pursue a strategy to make the company more international," Vanke said in a statement on its website. The company's A-shares jumped 9.98 percent to 11.13 yuan, while its B-shares also surged 10 percent to HK$ 13.75 ($1.77).
Shanghai Diesel Engine Co, which also resumed trading Monday, jumped to the 10-percent daily limit to 12.08 yuan. The company plans to buy back some of its B-shares which it says are undervalued on the illiquid board, according to the filing it submitted Friday night to the Shenzhen Stock Exchange.
Listed coal producers also notched big victories on the day. Shanxi's Taiyuan Coal Gasification Co rose 10 percent to 13.64 yuan.
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